India: CIL Hits Production Target in Feb’15

Coal India Limited (CIL), a state-owned largest coal miner, beats its Feb’15 coal production target and produced about 47.9 MnT of coal.

In Feb’15, CIL achieved more than its monthly target and produced about 47.9 MnT coal, 1.3 MnT over its targeted 46.6 MnT for the month. The company had been failing to achieve its objective since past few months, but succeeded to achieve its targeted production in Feb’15.

The company had recorded about 436.9 MnT coal in Apr’14-Jan’15 instead of targeted 450.1 MnT for the same period. In current fiscal, CIL has set a target to produce about 507 MnT of coal, which seems unrealistic as the company will have to produce 70 MnT of coal in Mar’15 to achieve that target.

During February, CIL’s major subsidiary CCL that produces Coking Coal achieved around 12% more of its target and produced around 6.2 MnT Coal. Whereas, another major subsidiary, MCL dropped its production by around 6% of its target and produced around 11.2 MnT of Coal against the 11.9 MnT target.