Coal India Shares in Focus: Signed MoU With IREL For Improving Mining Capabilities

On January 7, 2025, Coal India shares are in focus as it entered into a strategic partnership with IREL (India) Limited, a public sector undertaking under the Department of Atomic Energy. This collaboration was formalized through the signing of a Non-Binding Memorandum of Understanding (MoU) on Monday, January 6.

Objective of the MoU

The partnership aims to enhance India’s capabilities in mining, extraction, refining, and sourcing critical minerals. These minerals include mineral sands and rare earth elements (REE), which are crucial for industries such as electronics, renewable energy, and defence.

The MoU outlines the exploration of opportunities to develop, acquire, and source critical minerals both domestically and internationally. Key areas of focus will include identifying and developing assets for critical minerals, particularly mineral sands and REE, that are mutually agreed upon by both companies.

This collaboration is expected to play a key role in supporting India’s initiatives related to resource security. By reducing dependency on imports and promoting sustainable development, the partnership will contribute to India’s long-term economic and strategic goals.

Coal India Q2FY25 Results

State-owned Coal India Limited (CIL) reported a 22% decline in its consolidated profit for the quarter ending September 30, 2024. The profit stood at ₹6,274.80 crore, compared to ₹8,048.64 crore in the same period last year, primarily due to lower sales.

The company’s consolidated income for the July-September period decreased to ₹32,177.92 crore, down from ₹34,760.30 crore in the corresponding quarter of the previous fiscal year. Similarly, CIL’s consolidated sales in the second quarter fell to ₹27,271.30 crore, compared to ₹29,978.01 crore in the year-ago period.

On January 7, 2025, Coal India shares opened at ₹380.30 and touched the day high of ₹384.20 at 09:55 AM.

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