Friday, 27 Jan 2012
An extensive internal investigation in the Czech Coal Group has helped to uncover fraudulent sales of sized coal. Some of the employees in Czech Coal’s coal purchase and sale department were illegally selling coal to companies that market brown coal. Czech Coal has suffered loss of at least CZK 100 million in this way.
The investigation, which lasted for almost a year, has helped to detect an organised group of Czech Coal employees who were selling large quantities of sized coal for much lower prices without the Board of Directors being aware of this. These prices were set on the basis of agreement between the buyers and certain Czech Coal employees, who had their own personal financial incentive to engage in such deals.
During the investigation, a large amount of evidence was gathered; this evidence mainly includes extensive findings of internal audit. The investigation also helped to reveal fundamental differences between documents approved and documents signed, and also advisory co-operation between the buyers and certain Czech Coal employees’ relatives, including the financial flows between the ‘befriended’ individuals and companies and these Czech Coal employees.
Because of this situation, the company’s entire coal purchase and sale department will be dissolved. A criminal complaint will be filed in connection with the above findings, and security measures designed to prevent this situation from recurring will be adopted.
The Czech Coal Group includes Czech Coal a.s., a trader in energy commodities, mainly brown coal and electrical energy, which also provides shared services within the Group, and Litvínovská uhelná as, which manages the largest coal deposit in the Czech Republic, Vršanská uhelná as whose coal reserves within the currently existing mining limits will last until around 2055 and a number of other service companies.
Showing posts with label illegal coal mining. Show all posts
Showing posts with label illegal coal mining. Show all posts
Friday, January 27, 2012
Monday, August 29, 2011
China shuts over 1000 illegal coal mines
Monday, 29 Aug 2011
It is reported that China has shut down over 1,000 illegal coal mines in a countrywide crackdown
Mr Zhao Tiechui an official said that till the end of July, authorities had closed 1,289 coal mines for illegal production.
China Daily quoted the official as saying that as many as 86 people had been arrested on charges related to mine safety.
The toll from coal mine accidents fell 31% to 1,083 in China in the first seven months of this year from a year ago.
(sourced www.smetimes.tradeindia.com)
It is reported that China has shut down over 1,000 illegal coal mines in a countrywide crackdown
Mr Zhao Tiechui an official said that till the end of July, authorities had closed 1,289 coal mines for illegal production.
China Daily quoted the official as saying that as many as 86 people had been arrested on charges related to mine safety.
The toll from coal mine accidents fell 31% to 1,083 in China in the first seven months of this year from a year ago.
(sourced www.smetimes.tradeindia.com)
Wednesday, August 24, 2011
26 trapped in NE China coal mine flood
Wed, August 24, 2011 | By Xinhua
HARBIN - Twenty-six miners remain trapped underground after an illegal coal mine in northeast China's Heilongjiang Province flooded on Tuesday, according to the local government.
The flood occurred while 45 miners were working in a pit belonging to Hengtai Coal Mining Co., Ltd. in the city of Qitaihe, a spokesman with the provincial work safety administration said.
The spokesman said that while 19 miners managed to escape, 26 others remain stranded in the pit.
Rescue efforts are under way, he said.
The flooded pit was part of a smaller mine that was illegally operating, as it was supposed to halt production and be integrated into a larger mine before resuming operations, the spokesman said.
China has tried to close many of its smaller mines in recent years in order to improve safety and efficiency in the mining industry.
Following the accident, Huang Yuzhi, deputy chief of the State Administration of Coal Mine Safety, led a team to the flooded pit to direct the rescue efforts.
The administration has ordered local authorities to verify the number of miners currently trapped in the pit. The administration will conduct a joint investigation with the State Administration of Work Safety to find the cause of the accident and punish any individuals or companies who are found to have violated laws and regulations in relation to the accident.
HARBIN - Twenty-six miners remain trapped underground after an illegal coal mine in northeast China's Heilongjiang Province flooded on Tuesday, according to the local government.
The flood occurred while 45 miners were working in a pit belonging to Hengtai Coal Mining Co., Ltd. in the city of Qitaihe, a spokesman with the provincial work safety administration said.
The spokesman said that while 19 miners managed to escape, 26 others remain stranded in the pit.
Rescue efforts are under way, he said.
The flooded pit was part of a smaller mine that was illegally operating, as it was supposed to halt production and be integrated into a larger mine before resuming operations, the spokesman said.
China has tried to close many of its smaller mines in recent years in order to improve safety and efficiency in the mining industry.
Following the accident, Huang Yuzhi, deputy chief of the State Administration of Coal Mine Safety, led a team to the flooded pit to direct the rescue efforts.
The administration has ordered local authorities to verify the number of miners currently trapped in the pit. The administration will conduct a joint investigation with the State Administration of Work Safety to find the cause of the accident and punish any individuals or companies who are found to have violated laws and regulations in relation to the accident.
Thursday, March 3, 2011
Call for declaring coal an essential commodity in India
Thursday, 03 Mar 2011 By TOI
A parliamentary committee has asked the government to include coal in the Essential Commodities Act to control its pilferage while asking the ministry of coal to prepare a comprehensive document having details of human lives lost, environmental degradation and resultant loss to the exchequer due to illegal mining.
Coal was removed from the ECA earlier through an amendment. Now, the committee wants Centre to control its production, supply and distribution to stop illegal mining and pilferage.
A study carried out by the Jharkhand government with the help of Indian School of Mines, Dhanbad, estimated loss to coal companies to the tune of INR 106 crore annually and to the exchequer of about INR 34 crore a year.
In a report given to Parliament, the parliamentary standing committee on coal and steel has said a joint inter-state intelligence and action force should be constituted to combat the problem of illegal mining. A task force in each state under the supervision of the deputy commissioner and superintendent of police of the concerned area has also been mooted.
Coal was removed from the ECA earlier through an amendment. Now, the committee wants Centre to control its production, supply and distribution to stop illegal mining and pilferage.
A study carried out by the Jharkhand government with the help of Indian School of Mines, Dhanbad, estimated loss to coal companies to the tune of INR 106 crore annually and to the exchequer of about INR 34 crore a year.
In a report given to Parliament, the parliamentary standing committee on coal and steel has said a joint inter-state intelligence and action force should be constituted to combat the problem of illegal mining. A task force in each state under the supervision of the deputy commissioner and superintendent of police of the concerned area has also been mooted.
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