Gold Silver Reports — ✅ Coal India Production Target of 600 Million Tonnes in 2017-18 — Coal India may fall short its production target of 600 million tonnes in 2017-18, going by the production pattern during the first nine months of the year.
Provisional figures for the April-December 2017 period showed it has produced 383.93 million tonnes of the fossil fuel, well below the 406.58 MT target by six percent. However, during the nine-month period, it clocked a 1.6 percent growth in production from 377.77 MT produced in the same period last year.
A Coal India official said the company is striving to make up the shortfall by producing in excess of 2 MT per day.
According to the data, the miner produced 54.63 MT of coal in December, missing the production target of 58.89 MT for the month by seven percent.
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With better availability of rail rakes and upstick in demand, the miner achieved a 7.6 percent growth in off-take to 421.41 MT during the first nine months of the current fiscal, as compared to 391.78 MT during the same period last year.
Brokerage firm IIFL said in a report that there is a strong possibility that CIL would miss its annual production target. CIL was given a production target of 600 million tonnes for FY’18, an annual growth of 8.3 percent over FY17. – Neal Bhai Reports
