Coal News We love to talk!

MAR 13 2014

Coal India officers to go on 3-day strike, output to be hit

  • Economic Times, ET Bureau / Hyderabad
  • Created: Thu 13th MAR 2014

Coal India Ltd said its officers will go on a three-day strike from Thursday to demand for a settlement of pay-related issues, in a move that could cut some of its 1.5 million tonnes-per-day output and tighten domestic supplies.

The state-owned company, the world's No. 1 coal miner that accounts for about 80 per cent of India's output, frequently falls short of its output target due to employee strikes, delays in getting approvals to expand mines and other issues.


As a result, India is the world's third largest importer of coal despite sitting on the fifth-largest reserve.
"Coal Mines officers' Association of India has served a strike notice ... against non-finalization of performance related pay, new pension scheme and other demands," the company said in a statement to the Bombay Stock Exchange on Wednesday.
"Efforts are being made to reconcile the same."

Though Coal India's production peaks in March, not all of its output will be hit as only 19,000 of the total 49,000 employees are of officer rank, two company officials said.

"There will of course be some amount of dent but we do not expect it to be a total halt of mining across the company," said one of the officials, who declined to be named as he is not authorised to speak to media.


A Coal Ministry spokesman could not be immediately reached for a comment.
In the eleven months to February, Coal India produced 409.13 million tonnes, or 95 per cent of its target for the period. A labour protest in December had cut off supply of about 200,000 tonnes per day for almost a week, mostly to power generators.


Chairman S Narsing Rao told Reuters last month that the company expected to produce about 475 million tonnes in the fiscal year ending March 31 and raise it by 30 per cent next year.

India's coal imports rose 21 per cent to 152 million tonnes in 2013 calendar year, according to research firm OreTeam.Coal India shares have shed more than 10 per cent so far this year, extending last year's losses of 18 per cent.

Tags

Coal Coal Mines India

Related News

  • NTPC pays Rs 2,152 crore interim dividend for current financial year  Read more
  • Kazakhastan's delegation visits India a month ahead of PM Narendra Modis trip; seeks ties in exploration and mining  Read more
  • ABB wins Rs 4,350 crore mega deal for long distance power transmission link in India  Read more
  • India receives its first US oil shipment at Paradip  Read more
  • Solar projects delayed due to financing issues: Tobias Engelmeier  Read more
  • Rooftop solar plant to make Jaipur metro stations self sufficient  Read more
  • Minister asks bankers not to discriminate against Indian solar manufacturers  Read more
  • Company being set up for Ratnagiri refinery  Read more
  • SECI in talks with Odisha govt to develop 100 Mw floating Solar PV panels  Read more
  • GAIL scraps $7-bn LNG tender  Read more