Foreign media February 19 news, P M PR PRASAD, chairman and managing director of the world’s largest mining company in the world’s largest mining company, told analysts at the phone meeting on Monday’s financial report that the company will be on the 2nd’s financial report that the company will be 2 at 2The month is bid for three blocks in the key mineral auction held by the Indian Ministry of Mining.
In November last year, India launched the first part of key mineral auctions. It is expected to raise a total of 450 billion rupees (US $ 5.42 billion) to promote the development of its clean energy, which has aroused interest in companies such as OLA Electric and SHREEE CEMENT.
In addition, a senior official of the Indian Coal Company confirmed that the company will bid for lithium and nickel ore at the auction of February 26.
PRASAD added that the company also visited Australian lithium ore and is conducting preliminary negotiations on operating these lithium mines.
PRASAD said that Indian Coal Corporation, headquartered in Kolkata, is optimistic about achieving 780 million tons of output targets this fiscal year, but he added that the land and environmental cleanup related challenges faced by the southeast coal field may lead to 8 million to 9 million tons.The gap.
The inventory of Indian Coal Corporation and the inventory of power plants are currently at a record high, which led to the company’s annual output target of the 2025 fiscal year by 1.4%to 838 million tons.
PRASAD said that the record high inventory affects the company’s electronic auction premium, and the premiums of electronic auction premiums in January and February fell by 36%-50%, which is less than 80%of the annual average.
When demand exceeds supply, Indian Coal Corporation obtained a premium from electronic auction or spot auction.
This also pulls the income growth rate of the mine from October to December to nearly 3%. This is except for April to June 2023, the company’s 11 coal supply signs that the company’s 11 coal supply has led to 4%of the stock price on Monday.Within the past 52 weeks of Friday, the stock price has risen more than doubled.PRASAD said he expects that global coal prices will stabilize at the current level in the next 1-2 years.
PRASAD further supplemented that India’s largest employer India’s coal company expects employee costs to continue to decline. Due to the loss of personnel in fiscal 2024, the cost is expected to fall 20 billion.
Source: Indian News Network
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