03-01-2018

Coal India misses December output target by 4.26 million mt

State-owned Coal India Limited produced 54.63 million mt of coal in December 2017, falling short of its 58.89 million mt target, the company said in a filing to the Bombay Stock Exchange Monday.

The output inched up 0.7% year on year.

Over April-December 2017, India's largest coal miner produced 383.93 million mt versus a target of 406.58 million mt, but the output had risen 1.6% year on year.

CIL supplied 53.44 million mt of coal to its customers in December versus a target of 53.84 million mt, but it was 3.8% higher year on year.

Coal supplies for the first nine months of the current fiscal year 2017-2018, which will end in March 2018, stood at 421.41 million mt compared to its target of 432.11 million mt, but was up 7.6% on the year, the company said.

CIL aims to produce around 600 million mt of coal in the current fiscal and 1 billion mt of coal by 2019-2020.

SINGARENI COLLIERIES MISSES APR-DEC OUTPUT TARGET

Meanwhile, the country's second largest coal producer, state-owned Singareni Collieries Company Limited, reported an output of 41.99 million mt for the nine-month period of the current fiscal year, versus a target of 45.73 million mt. Output, however, inched up 1% year on year.

Shipments for April-December exceeded the target of 46.19 million mt, as it supplied 46.70 million mt of coal, up 9% year on year.

The output for December was 5.68 million mt, down 4.5% on the year, and total shipments were at 5.96 million mt, almost flat on the year.

SCCL had recorded an output of 61.34 million mt for fiscal 2016-2017, which ended March 31, and it has set an output target of 100 million mt for 2019-2020.

The company operates 30 underground mines and 16 open-cut mines, and supplies around 66% of its coal to power utilities in India. The balance of the company's production is sold to cement, captive power, sponge iron and other customers in India.

Source: Platts

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