Coal India achieves nearly 70% of FY24 production target in nine months

State-run Coal India Ltd., India’s largest mining company has achieved two-thirds or 68% of its production target set for financial year 2024.

For the month of December, the company’s production grew by 8% from the same period last year to 71.9 Million Tonnes (MT), from 66.4 MT last year. For the current financial year, the overall production for Coal India stood at 531.9 MT, which is 68.1% of its full-year production target of 780 MT.

Majority of the production growth in December was led by Eastern Coalfields (ECL) and North-Eastern Coal Fields, the latter though, came on a low base. Mahanadi Coalfields also saw double-digit growth in production year-on-year. However, that growth was offset by sluggish production in Northern Coalfields, Bharat Coking Coal Ltd., and South-Eastern Coalfields.

For the year so far, Coal India’s production has grown by 11% year-on-year.

Coal India’s offtake in December grew by 6.1% to 66.6 MT, while on a year-to-date basis, offtake has grown by 8.7% to 552 MT.

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