Coal news and updates

CIL’s FY’15 production up 6.87%

April 06: Coal India Limited (CIL) has reported 6.87% increase in its 2014-15 coal production at 494.23 million tons (mt) as compared to 462.42 mt in 2013-14, according to provisional data released by the company.

ICMW had in March reported that CIL’s 2014-15 coal output would be around 495-496 mt.

The actual production of 494.23 mt in 2014-15 fell short by 12.77 mt compared to the target of 507.00 mt.

“The increase in production in absolute terms was 31.81 mt which is highest ever incremental increase in a single financial year since the inception of the company", CIL’s Chairman & Managing Director Sutirtha Bhattacharya said.

"It means, in a single year we have achieved 42.5%, of the absolute increase of 74.93 mt, recorded during the entire Eleventh Five Year Plan. The important challenge is to ramp up our production to match with the targets and sustain it,” Bhattacharya said.

In March 2015, the company’s coal production stood at 57.27 mt, up 7.25% compared with 53.40 mt produced during the same month of 2013-14. The production in March this year was also higher by 19.36% from 47.98 mt produced in February 2015.

In March, the largest coal miner in the world surpassed its monthly production target of 56.86 mt as five of its eight subsidiaries -- ECL, BCCL, NCL SECL and NEC -- surpassed their respective targets, data revealed.

The following table provides monthly break-up of CIL’s production in 2014-15 and 2013-14 (in mt)*:

* Figures have been rounded in some cases