- Published: Monday, 07 November 2016 15:16
- Written by E&MJ News
Arch Emerges From Chapter 11 • Universal Commissions Second Mine in South Africa • Ramaco’s Brook Operation Moving Forward • Millennium Terminal DEIS Released
An official for India’s state-owned producer Coal India Ltd. (CIL) revealed that 66 of its 123 most costly projects are facing some kind of delay as the country eyes a target of 20 billion metric tons (mt) by 2020. According to media outlets in India, officials have marked 57 projects as active. Of the 66 delayed, 34 are behind schedule due to delays in forestry clearances and another 17 are running behind because of land acquisition and related problems. Another seven have been hung up by a delay or discontinuance of work or non-participation by a contractor. Legal issues have delayed another five, and three have a lack of railway infrastructure.
As it continues to move ahead toward emerging from Chapter 11 bankruptcy, Peabody Energy said August 10 that the business plan that will set the basis for its plan of reorganization has been approved by its debtor-in-possession (DIP) lenders. In its plan, Peabody has projected sales volumes of 168 million tons this year. It will rise to between 194 and 197 million tons annually between 2018 and 2021. Revenues will hold stable at $4.4–$4.6 billion.