Coal news and updates

CIL’s y-o-y production growth at 8.9% till Dec 15

India Coal Market Watch

December 17: Coal India Ltd (CIL) has reported an 8.9% growth in coal production to 345.65 million tons (mt) till December 15, 2015-16, compared to the same period last year, according to data available with ICMW.

This, however, is slightly below the 356.72 mt targeted for the period under consideration (April 1 to December 15), the data shows.

In December, production stood at 24.27 mt (till December 15), about 98% of the target of 24.71 mt. This shows a year-on-year growth of 10.6%. The December performance so far shows an increase in growth if compared with the same period last month (November 15).

Coal off-take till December 15 was 364.27 mt, below the target of 374.11 mt, but 9.8% higher on an annual basis.

Off-take during the month (till December 15) was 23.14 mt, which was 97% of the target of 23.93 mt. The growth in off-take this month has so far been 10.2% year-on-year. This, again, is higher than the 8.8% growth (y-o-y) achieved during the same period last month (November 15).

Total overburden (OBR) removal till December 15 this year has been 767.85 mn cubic metres (cum), which is higher than the target of 701.62 mn cum. OBR has shown a stupendous growth of 35.5% year-on-year.

In the month of December, CIL achieved 54.10 mn cum of overburden removal (OBR) (till December 15), against the target of 45.96 mn cum, the data shows.

CIL Chairman-cum-Managing Director Sutirtha Bhattacharya has attributed the jump in production in 2015-16 to the high growth in OBR, saying that the latter would ensure continued growth in output this year.