Coal news and updates

Amid mounting dues, Coal India's price hike plan likely to be delayed

Coal India's plan to raise prices, which has been pending for some time, is likely to be delayed further as the mining major has failed to secure the nod of key stakeholders amid an outstanding of Rs 24,000-25,000 crore pushing the company in a tough situation, a source close to the development said on Sunday. 

The recent coal crisis at power plants in several parts of the country has caused the dry fuel producer to relax payment terms and push coal to ensure that there is the least shortage of power to keep the economy on track.

"The agenda of price hike is unlikely to be placed before the upcoming board meeting on November 12 as the board has not yet received the go-ahead from important stakeholders in the wake of the chaos of coal shortage since last month, though the global price of coal had risen significantly.