CIL falls short of July production target

India’s state-owned coal company, Coal India Ltd (CIL) fell 9% short of its target production in July, according to an announcement to the Bombay Stock Exchange. The company produced 36.74 million t in July, compared to a target of 40.29 million t. Offtake was 11% down on the target at 41.47 million t.

Over the financial year-to-date, production in 6% down on the target at 162.38 million t – but 4% up on the previous year.

On CIL’s subsidiaries, only Eastern Coalfields (ECL) and Central Coalfields (CCL) hit their production targets in July. Western Coalfields (WCL) was down 51% on target, at just 1.42 million t and remains 22% down on its year-to-date target.

South Eastern Coalfields (SECL) and Mahanadi Coalfields (MCL) – CIL’s highest producing subsidiaries were 4% and 21% down on their July targets, respectively, at 9.65 million t and 10.36 million t.

This year, SECL has produced 41.74 million t – a 3.7%r is on the same period in 2015 but 6% off its targeted production of 44.23 million t. MCL has mined 44.45 million t since April – an impressive 10.8% increase on last year but still 5% down off its target.

Edited by Jonathan Rowland.

Read the article online at: https://www.worldcoal.com/mining/05082016/cil-falls-short-of-july-production-target-2016-2169/