Coal news and updates

SC order to have one-time impact of Rs 500 cr: HINDALCO

September 25: HINDALCO Industries Ltd, commenting on the coal block de-allocation by the Supreme Court, on September 24, said that, at a suggested levy of Rs 295 per ton coal, the total one-time impact on the company would be around Rs 500 crore.

“In any case, we were not expecting the captive coal immediately; hence, have plans to operate on purchased coal,” the company said in a release.

It added: “The only incremental impact because of the cancellation of coal blocks would be on the cost of production at the Hirakud smelter, starting April 2015, which is not expected to be significant."