Exploration spending to stay flat despite Trump pledges, strong gold prices, S&P says
The cautious outlook comes as global exploration budgets for nonferrous metals declined by 3% in 2024.
Hopes are high that India, set to overtake China as the world’s most populous nation during the next decade, could take over the role of China as the world’s growth engine.
China’s coal production and consumption peaked last year after being responsible for 80% of global coal consumption growth since 2000.
As far as thermal coal is concerned India has already overtaken China as the world’s top importer and domestic production is ramping up just as China’s starts to decline.
According to latest government data state-owned Coal India’s production grew 9.4% in the April-August 2015 period helping total coal output in the country to grow to 187 million during the second quarter.
Coal India’s growth will only accelerate from here – the company said there was a whopping 37% increase in overburden removal at its open pits during the April-September 2015 period.
That would lead to additional tonnage of at least 50 million in the current fiscal year following 32 million tonnes of new supply from the company in 2014.
Delhi’s target for Coal India is 1 billion tonnes by 2020 with private sector mining contributing another 600 million tonnes by that time to make the country less reliant on imports.
7 Comments
Harry
To show such a giant company you picked the best photograph.This shows your attitude towards an emerging economy such as India!. May god help you to have better understanding of India and Coal India.
TrueNorth
I’ll bet they are laughing at the global warming lie.
SingleFather
I note the lack of any PPE for these workers. Likely no environmental controls, no safety controls, probably no employee rights, no social responsibility. Any company in the western world could be just as busy without any of these costs and accompanying legal responsibilities. Perhaps the author’s next article could be about a mining company using slaves, prisoners, new naïve immigrants, and so on.
That company’s production would easily be triple that of this “SAD” company in India!
aussie miner
well wouldnt you think they could afford to buy some machines or even some PPE for the slaves ah i mean workers
Darryl Price
This is a stock photo which has been used previously by Mining.com. So the SJW’s and safety wallas need to jump off the outrage bandwagon.
SingleFather
Mr. Price, note the photograph from National Geographic taken “April 2015”.
http://ngm.nationalgeographic.com/2015/04/india-coal/loyd-text
“Critics claim that the safety practices in most mines are inadequate, which is causing so many casualties.[24] It is also claimed that many accidents and deaths are not recorded and hence are not part of ‘official figures’.
https://en.wikipedia.org/wiki/Coal_India
Sam Morrison
Wiki is not a good source for this kind of information. Coal mining India is well regulated business by government. Coal India is a government owned company which works more on employee welfare principles and not on profit. This company employees more than 450,000 people directly and many more indirectly. All employees are provided company accommodation. Mr. Single Father how many people are directly employed in Australian coal Business? What was the causality number in 2014? What is the causality rate/ number of persons employed.Please introspect before jumping into conclusions.