Introduction:
Public sector undertaking has signed a Non-Binding Memorandum of Understanding (MoU) with IREL to collaborate on the development, mining, and refining of critical minerals, including rare earth elements and mineral sands, to strengthen resource security and industry growth.
Share price movement of Coal India:
On January 7, 2025, Coal India Limited opened at ₹380.30, up 0.39% from its previous close of ₹378.75. The stock reached a high of ₹384.20 (1.45%) and a low of ₹377.65. By 11:08 AM, it traded at ₹379.20, a 0.12% increase, with a market cap of ₹2,33,690.66 crore.
CIL and IREL Sign MoU for Mineral Development:
Coal India Limited (CIL) and IREL (India) Limited signed a Non-Binding Memorandum of Understanding (MoU) to collaborate on developing and mining critical minerals, including mineral sands and rare earth elements (REE). The partnership was executed at IREL’s headquarters in Mumbai.
The MoU outlines plans for acquiring assets and sourcing raw materials both domestically and internationally. This collaboration is expected to strengthen both companies’ positions in the mineral extraction and refining industries, contributing to India’s growth in critical minerals and resource security.
It is a strategic move to address the growing demand for critical minerals used in various industries, particularly the renewable energy and electronics sectors. Both organizations aim to leverage their resources and expertise for mutual growth and long-term sustainability.
Recent news on Coal India:
As of December 16, 2024, Coal India Limited (CIL) has invested ₹1,209 crore in solar power projects with a 661 MW capacity. CIL plans to achieve 3,000 MW capacity by 2027-28, with incremental targets each year.
Stock performance of Coal India for Period of 1 week, 6 months and 1 year:
Coal India Limited has seen a decline of 1.41% over the past week, 24.3% over six months, and a slight 0.43% dip over the past year, indicating challenges in the company’s performance in recent periods.
Shareholding pattern of Coal India:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 63.10% | 63.10% | 63.10% |
| FII | 9.20% | 8.40% | 8.40% |
| DII | 22.70% | 23.30% | 23% |
| Public | 5% | 5% | 5.20% |
About Coal India:
Coal India Limited (NSE: COALINDIA) is a Maharatna company engaged in coal mining and production, primarily serving the power and steel sectors. It was incorporated in 1973 and operates under the Ministry of Coal, Government of India.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
