Coal news and updates

Coal India misses April-December output target by 15 million tonnes

Coal India has missed both its production and sales targets for the first nine months of the current fiscal year.

The state-run company said its output fell 15 million tonnes short of target between April and December while sales were 12 million tonnes off the plan. It was aiming to produce about 335 million tonnes of coal and sell 354 million tonnes during the period.

The company, the world's largest producer of coal, said strong heat-wave conditions during summer and heavy monsoon rains hurt production.

A strike by workers also affected both output and sales, the company said, while also blaming law and order problems in some places and the impact of Cyclone Phailin that struck eastern India in October for missing its targets.

During the fiscal year, CIL is likely to miss its output target by at least 17-18 million tonnes, which will be enough to produce 4,000 mw of thermal power. A ban on expanding two of its coalfields by the environment ministry will also affect production, it said.

Source: The Economic Times