Coal news and updates

Coal India misses August output target by 3.8%

State-owned Coal India recorded an output of 36.21 million tonnes (MT) in August, missing the target by 3.82 per cent.

The company's production target for August was 37.65 million tonnes, Coal India (CIL) said in a regulatory filing.

The government has set an ambitious one billion tonnes coal production target for Coal India by 2020.

CIL's achieved an output of 192.37 MT in the first five months of the current fiscal, missing its target of 196.73 million  tonnes. Coal India's output target for the current fiscal is 550 million tonnes.

Coal India missed the production target for the financial year 2014-15 by 3 per cent recording an output of 494.23 million tonnes.

The government had earlier said that it is hopeful that state-owned Coal India will surpass its one billion tonne excavation target by 2020.

CIL accounts for over 80 per cent of the domestic coal production.

source: http://economictimes.indiatimes.com