Coal news and updates

Coal India’s production up 17% so far in FY23

Last month, Coal India produced 60.7 MT of coal, achieving 100% of the target and logging nearly 13% growth over 53.8 MT recorded in November last year. Sequentially, output rose 14.7% last month.

NEW DELHI: State-owned Coal India Ltd (CIL) has reported a 17% rise in its coal production so far in the financial year 2022-23. During April-November, the company produced 412.6 million tonne (MT) of coal compared to 353.4 MT a year ago, the miner said in a statement.

“CIL has achieved 99.7% of the progressive production target and brought down the annual asking growth rate by almost half to 6.7%. The company began FY’23 with an asking rate of 12.4% in a bid to edge past the year’s output target of 700 MTs," it said.

The company has to produce 287.4 MT of coal during the remaining four months of this fiscal to achieve its FY23 output target.

“This is achievable with strong augmentation in production so far and overburden removal, displaying robust growth that helps in faster extraction of coal in the coming months. we feel confident of surpassing the fiscal’s production target. Also, during Q4 production steps up into higher trajectory,“ the statement cited a senior company official as saying.