Coal news and updates

CIL’s pithead vendible stocks fall to 31.20 mt

August 11: Pithead vendible coal stocks of Coal India Ltd (CIL) fell to around 31.20 million tons (mt) as on August 7, 2014, a senior official of the company told ICMW.

The stocks were at a level of 37.46 mt as on June 30, 2014, according to data available with ICMW, which means there had been 16.71% or 6.26 mt reduction in pithead vendible stocks of the company in a span of 38 days.

Asked if the entire 31.20 mt stocks that were lying at the pithead were practically vendible, the official said, “Yes, the entire stock is vendible.”

“We are left with only about 31.20 million tons of stock as on August 7, 2014 as compared to around 67 mt around two years back. Even after this, if people ask whether the stock is vendible, then it is difficult to answer,” the official said.

“Earlier, when the stocks were at 67 mt, people used to say that it is useless and cannot be burnt, but even now people doubt about the 31 mt. What can I say? Had the stocks not been vendible, how could we reduce the figure to 31 mt?” the official asked.