Corporate

Coal India trade unions serve 1-day strike notice on November 26

Coal India trade unions serve 1-day strike notice on November 26

Coal India trade unions serve 1-day strike notice on November 26

Coal India trade unions serve 1-day strike notice on November 26 – Four trade unions of Coal India have served notice for a one-day strike on November 26 against the commercial mining of coal, the state-owned company said during a regulatory filing on Monday. The country’s largest coal company said efforts would be made to avert the strike and the conciliatory process goes on, it said, without divulging further details.

Being its subsidiaries on 26.11.2020, Four trade unions of CIL have served one-day strike notice in CIL as efforts would be made to avert the strike and conciliatory process goes ahead during a filing to BSE.

As they might plow ahead with their planned nationwide general strike on November 17, 10 central trade unions had announced on November 26 and also voiced their support for a two-day farmers’ agitation.

For over 80 per cent of domestic coal output, Coal India operates in 84 mining areas cover eight states of the country. it’s 352 mines, of which 158 are underground, 174 opencast, and 20 mixed mines. the corporate also operates 12 coal washeries.

Earlier in August, five trade unions of CIL had served notice for a one-day strike on August 18, which was later withdrawn protesting against the proposed divestment or buyback of shares of the PSU.

The unions had observed a three-day strike from July 2 to protest against the commercial mining of coal that its board approved the proposal to hike the non-coking coal price by Rs 10 per tonnes for regulated and non-regulated sectors. the worth rise will inherit force from December 1, 2020.

The PSU is additionally getting to invest Rs 5,650 crore ($763 million) by March 2024 to develop 14 solar projects to assist power its mining operations and cut costs and would finance, in cash for nearly two-thirds of its plans to construct rooftop and ground-mounted solar energy projects with a capacity of 3,000 megawatts (MW), while the remainder would be funded through a venture with lignite miner NLC India, as per Reuters report.

The miner’s output dropped for the primary time in additional than 20 years in 2019-20 to 603 million tonnes. It aims to supply 1 billion tonnes of coal a year by 2023-24.

Ahead of the announcement, shares of Coal India ended the day’s trade at Rs 122.70, up 1.03 per cent, against the previous price of Rs 121.45 on the Bombay stock market.

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