Tag: Coal

ISLAMABAD: The Pakistani government is considering approaching local banks to finance the conversion of power plants from imported coal to Thar coal, as well as the expansion of Thar coal mines. This initiative, aimed at enhancing energy security and reducing fuel costs, was discussed in a recent meeting between Pakistani officials, Chinese experts, and representatives from the Chinese embassy. Led by Additional Secretary Power Division-1, Khushhal Khan, the Pakistani side emphasized that switching to Thar coal is essential for improving power generation capacity, lowering tariffs, and ensuring the financial sustainability…

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Glencore Retains Coal Business After Shareholder Consultation August 8, 2024 ZURICH: Swiss commodities giant Glencore has decided to retain its coal business after consulting shareholders who see the fossil fuel as a significant cash generator. Glencore recently completed the acquisition of Teck Resources’ steelmaking coal unit, Elk Valley Resources, in July following a protracted negotiation with the Canadian company. The commodities trading and mining group had considered merging Elk Valley Resources with its coal operations and spinning off the combined entity. However, after extensive shareholder consultations, Glencore found that most…

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ISLAMABAD: Pakistan is exploring the possibility of importing coal from Kyrgyzstan for power generation, a temporary measure until power plants can transition to Thar coal, according to sources from Business Recorder. The Ambassador of Pakistan to Kyrgyz Republic recently met with Talaibek Baigaziev, Kyrgyz Deputy Minister of Energy, to discuss potential energy cooperation between the two countries. During the meeting, Baigaziev expressed satisfaction with the resumption of the CASA-1000 project, anticipating its completion by the end of 2026. He also mentioned the Kyrgyz Energy Minister’s interest in a phone call…

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KHYBER: The import of coal from Afghanistan through the Torkham border has significantly decreased following the Afghan Taliban’s decision to increase taxes on coal mines and export duties. This situation has been further exacerbated by Pakistani industrialists shifting to cheaper local coal sources. Custom clearing agents in Torkham revealed that the suspension of trade through the Kharlachi border crossing in the Kurram tribal district, due to security concerns, has compounded the difficulties faced by local coal importers. The additional duties and taxes imposed by the Afghan Taliban since their rise…

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