Coal India Annual Production Drops For Second Straight Year

Coal India Ltd, the world’s largest coal miner, stated on Thursday its annual manufacturing fell for the second straight yr, as decrease electrical energy consumption as a result of coronavirus-induced lockdowns damage gasoline demand. The state-run miner produced 596.2 million tonnes of coal for the yr ended March 31, in contrast with 602.1 million tonnes final yr. Coal gross sales fell 1.3 per cent to 573.8 million tonnes, the corporate stated in an announcement. 

“Primarily, what hurt Coal India’s supplies was reduced coal lifting by the power sector,” the miner stated. An absence of provides has led to a listing of 99 million tonnes, rising by about 25 per cent from the identical interval final yr, it added.