Coal India output likely to slip 4 per cent in January after months of growth

Coal production for the month is likely to be around 60.2 million tonnes compared with the corresponding period a year ago, when the output was at 63.11 million tonnes, they said.

Coal India's dry fuel production is likely to snap a five-month growth streak to register a decline in January, owing to high pithead stock, sources said on Sunday.

A high level committee (HLC) headed by Vice Chairman, NITI Aayog, on mines, minerals and coal sectors was constituted by the government to give recommendations. (PTI)

Coal production for the month is likely to be around 60.2 million tonnes compared with the corresponding period a year ago, when the output was at 63.11 million tonnes, they said.

Till January 29, the output was 56.24 million tonnes, and aggregate production for the 11-month period of the current fiscal (AprilJanuary) will be about 454 million tonnes, the sources said.

Coal India is targeting an output of 630-640 million tonnes till March.

The world's largest miner has been registering robust growth since August 2020, as the nationwide lockdown began to ease, when it recorded a 7.1 per cent on-year rise, followed by September (31 per cent rise), October (18 per cent) and November (3.4 per cent).

Total coal offtake for the Kolkata-headquartered company in the first month of 2021 is expected to be 53.3 million tonnes, resulting in a decline of about 5.5 per cent as against the figure during the same period in 2020.

Demand for the dry fuel is set to revive in 2021 with a 3.8-per cent increase, according to a Moody's Investors Service report.