Coal news and updates

Coal India FY16 output up 8.55%, but below target

Coal India Ltd (CIL) reported an impressive 8.55% growth in coal production in 2015-16, but that was not enough to meet its production target of 550 million tons (mt) set for the year. The company missed its target by a small margin of 2.45%.

According to an official release by the company, production during financial year 2015-16 stood at 536.51 mt, up 22.78% compared to 494.23 mt produced in 2014-15.

The actual production in 2015-16 was 97.55% of the target of 550 mt.

In March 2016, production stood at 59.19 mt, up 3.35% compared to 57.27 in the corresponding month of the previous year and marginally higher from the March target of 56.87%.

However, on a month-on-month basis, production of CIL rose 16.03% from 51.01 mt produced in February.

The state-run coal miner accounts for 80% of the total coal production in India and the company has set a target of producing 550 mt coal in 2015-16 and increase it further to 1,000 mt by 2019-20.

The following chart provides CIL’s monthly coal production in FY16 and FY15 (in million tons):

#Updated figure may not tally due to revision