New Delhi: Coal India targets more than 8 per cent growth in production at 660 million tonnes in 2019-20 compared to 607 million tonnes in the last fiscal and plans a capital expenditure of Rs 10,000 crore in the current fiscal, according to sources. The target for revenue from operations (net) has been fixed at Rs 1 lakh crore for FY2019-20, they said. The targets were fixed during a meeting between the Coal Ministry and Coal India (CIL) held recently. Also Read – SC declines Oil Min request to stay sharing of documents”CIL had signed the mandatory memorandum of understanding … with Ministry of Coal for its key performance areas for the fiscal 2019-20. Thus the coal production and offtake target for the year 2019-20 is 660 MT …. CAPEX target has been set at Rs 10,000 crore,” sources said. As laid down in the MoU 2019-20, the Maharatna PSU has to ramp up its coal production growth to 8.75 per cent over the previous year. CIL closed 2018-19 with a coal production of 606.88 million tonnes, against the MoU target of 610 million tonne. Also Read – World suffering ‘synchronized slowdown’, says new IMF chiefFurther to make the MoU more comprehensive, production efficiency and HR parameters have been included. Also, parameter relating to Central Public Sector Enterprises (CPSE) conclave are an added features of the MoU 2019-20. “The MoU for 2019-20 has been formulated on the lines of new DPE guidelines and finalised after discussions with the Pre-Negotiation Committee and Inter Ministerial Committee,” source said. Coal India which accounts for over 80 per cent of domestic coal output had set an internal aspirational target of 652 million tonne FY2018-19, but could not go closer to it as things did not fructify as perceived, sources had earlier said.
Major players in the mining sector are clambering over each other to get a part of the new dual-fuel hybrid truck that has been doing circuits for the past two years at New Hope Group’s New Acland coal mine in Queensland, Australia, according to the mining company.The mine was the place of choice to conduct the trial of the latest innovative technology in dual fuel trucks by project partners Mine Energy Solutions (MES) and Hastings Deering.General Manager of New Acland mine, David Vink says the project was a great example of industry collaboration.“We provided the trial site and wherewithal, MES the technology and Hastings Deering the hardware – so to speak (truck and engines),” he said.He explains the revolutionary technology enables the conversion of high horse powered diesel engines from 100% diesel to dual fuel operation, using natural gas as the dominant fuel through sequential gas injection. The trial was on a Cat 789C haul truck (pictured).“When MES first looked for project partners in Queensland, there was no one interested,” Vink said.“But we could see the potential for this technology from the outset.“Now, after nearly 24 months operating on site, clocking more than 6,200 hours, we’ve piqued the interest of the big boys and the sceptics.“We’ve taken the technology from an R&D project to ready for commercial application. Actually beyond that – it has already been taken up commercially which has signalled the end of the trial.”Vink said the trial was originally planned to run for just six months in 2016 but, off the back of data collected as the trial progressed, the technology itself evolved even further.“The trial is complete, MES’s technology has been proven and we are pleased to be part of this exciting project that is now going global,” Vink said.
ALTOONA — The Iowa Racing and Gaming Commission renewed the licenses for the 19 state casinos it oversees during their meeting Tuesday in Altoona.Racing and Gaming administrator Brian Ohorilko also released the economic impact information on the casinos for the last calendar year. “Over $1.1 billion has been attributed to the Iowa economy as a result of the casino industry in 2019,” according to Ohorilko. He says the figures include all the funds generated and expenses paid to operate the facilities.“This would include things that are required statutory payments — like taxes — but also expenditures for various supplies, construction, payroll expenses, and charitable contributions,” Ohorilko says. “And so, when added together as a whole the impact for 2019 exceeded one-point-one billion dollars.”Ohorilko says the IRGC has a policy that requires the casinos to seek Iowa vendors first. “Of that $1.1 billion, a significant amount of that money was spent with Iowa vendors or folks that reside in the state of Iowa. That is also something that commission focuses on, asks the operators to do,” he says. Ohorilko says 90% of the money spent in 2019 went to Iowa vendors.The casino industry impact has topped the one billion mark for several years. Ohorilko says that was even more impressive this past year after a tough winter saw business way down early on. “Last year was a tough year for the industry due to weather and flooding,” Ohorilko says, “what has been nice to see — at least early on in January, February, and early March — numbers are up.”He says the increased traffic this year is due in part to a milder winter. “But also we think some of it is attributed to sports wagering being offered in the state,” Ohorilko says. Sports betting began in mid-August and betters are required to register at a casino before they can bet, which casino operators say has helped bring in new customers.