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20-Nov2012

Coal India anticipates slippage in production for Oct-Dec period

Coal India (CIL), the world's largest coal producer, anticipates some slippage in the coal production for October-December period. This slippage foreseen by the company is on account of Nilam cyclone and festivals, which impacted the mining activity in November.

Coal India had set 125 million tonnes (MT) production target for October-December quarter of the current fiscal. The state-run firm, which enjoys a near monopoly in the country's coal production, has reported 9% growth during the April-October period which stood at 208.3 MT compared to the same period last year.

For the current fiscal, the company has set a target to produce 464 MT. Last fiscal, it had produced 435.84 MT and envisages taking its production to the level to 615 MT by 2016-17, the terminal year of the 12th Five-Year Plan.

Besides twelve days back, the company has started exploration in a coal block in Mozambique and this is likely to be completed by the end of next year.


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