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Coal Companies to take up more Social Development Projects in Coal Mining Areas

Coal Companies to take up more Social Development Projects in Coal Mining Areas

NEW DELHI: Coal India limited (CIL) has deployed more security personnel besides upgrading its infrastructure to check pilferage and theft of coal from its mining areas. The matter has also been taken up with railway authorities to improve security of railway wagons to check the loss during transit. This was informed by Minister of Coal, […]

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Profit-sharing to eat additional Rs 2,200 cr from CIL’s net

Profit-sharing to eat additional Rs 2,200 cr from CIL’s net

NEW DELHI: Coal India’s annual consolidated net will get eroded by around Rs 2,200 crore once the draft MMDR Bill that obligates coal miners to share 26 per cent of their profits with project-affected people is implemented. “As part of our CSR policy, we spend Rs 5 per tonne, or 5 per cent of the […]

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GoM approves 26% profit-sharing for coal companies

GoM approves 26% profit-sharing for coal companies

NEW DELHI: India will soon have a benefit-sharing regime for those affected by mining projects, despite protests from industry. The new mining Bill – approved by a 10-member Group of Ministers (GoM) headed by Finance Minister Pranab Mukherjee on Thursday – says coal companies will have to share 26 per cent profit with the local […]

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Mandatory CSR spending for coal mining firms in India

Mandatory CSR spending for coal mining firms in India

NEW DELHI: The Union government may make it mandatory for coal mining companies to spend a part of their net profit on the welfare of local people affected by the activities. The move, a part of the competitive bidding guidelines being framed by the coal ministry, is in line with the ongoing wave of policy […]

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