Coal news and updates

SCCL production growth drops to nil in Feb

After a stupendous growth in the first 10 months of 2015-16, Singareni Collieries Company Ltd (SCCL) suffered a jolt as production growth in February 2016 dropped to nil on a yearly basis, according to data released by the company.

SCCL’s February production stood at 5.37 million tons (mt), the same as recorded for the same month last year, the data shows.

This shows a gradual decline in growth since October when the miner had clocked an 18.4% increase in its monthly output over the year ago period. Also, the February output shows a marginal drop from 5.73 mt achieved in the previous month, ie, January 2016.

Company sources, however, exuded confidence that SCCL would clock 6 mt of production in March 2016 and reach the level of 60 mt in 2015-16.

Despite the zero growth in February, SCCL’s production growth in the first 11 months (April-February) stood up 18.26% to 54.34 mt, compared to 45.95 mt achieved during the same period last year.

Till February 2016, SCCL’s production was 108% of its target of 50.40 mt set for the period under consideration.