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NTPC plans to acquire coal mines in Mozambique, Indonesia

NTPC Ltd, India’s biggest power producer, has appointed a consultant to evaluate two medium-sized coal mine acquisitions in Mozambique and Indonesia even as it plans to exit International Coal Ventures Pvt. Ltd (ICVL), a consortium of state-run firms formed to buy overseas coal mines.

Workers’ strike, excessive rain affect Coal India production

Production by Coal India Ltd has been hit hard by a recent strike by workers and excessive rainfall at some of its collieries, affecting coal supply at most thermal power stations across India.

Nalco plans to diversify into nuclear power

Bhubaneswar: Buoyed by 31% jump in net profit at Rs 1,069 crore in 2010-11, investing Rs 11,450 crore, but may move out of Orissa for its new smelter and power project in view of uncertainty on location.“The company earned a net profit after tax of Rs

Impact of Libyan crude restart on prices remain murky

Opec and oil companies are weighing the implications of a restart of Libyan supplies, which have slowed to a trickle during the conflict, but it is unclear how long Libyan output will take to recover . Libya pumped 1.6 million bpd before the war, almost 2% of world supply. Oil executives and analysts say some of that could resume within months after peace is established, while reaching pre-war output would take a year or more.

Indonesia’s Bayan signs 100 mn tonne coal deal with Indian firm

Indonesian coal miner Bayan Resources Tbk has signed a deal with India’s Universal Crescent Power Private Ltd to supply 100 million tonnes of coal over 15 years from 2015, the firm’s chief financial officer said on Friday. “It’s an index linked contract based on the Newcastle index (and) is fully compliant with the minimum pricing regulation,” Alastair McLeod told Reuters. “It’s not a fixed price contract, and so it will vary every month on delivery of the contract.”

MMTC drops proposal to buy overseas coal mines

New Delhi : In a major consolidation exercise, state-owned trader MMTC Ltd has dropped plans of buying overseas coal mines, commercial farming in Africa and generating electricity locally. The company would instead concentrate on its core businesses such