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Coal India’s October production may fall 20%

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Source: Google, November 4, 2019

Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produced in the year-ago month, the output data suggested.



The miner, which has a target to produce 57.17 million tonne for the month, has actually produced 37.92 million tonne of coal till October 30, according to the data.



The coal behemoth had produced 30.77 million tonne in September this year.



The data indicates that the miner’s rate-of-production has not been picked up, which led to a shortfall in the month.



Coal India aspires to produce 660 million tonne of the dry fuel in FY20.



According to provisional data, the miner produced 278.92 million tonne of coal till October 30 in FY20, achieving 82.17 per cent of the target of 339.43 million tonne.



The miner’s data also suggested that its offtake target was 360.44 million tonne for the period while the company achieved 314.59 million tonne.



Rating agency ICRA had predicted that Coal India’s output target will be missed by 55-75 million tonne.

News Source: PTI
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