Coal India hits record 400 MT output in quickest time ever

25 Nov 2022 , 05:47 PM

Coal India has breached the 400 million tonne (MTs) production mark in the quickest time ever, since the inception of the company, on 24 November of the ongoing fiscal. This represents a y-o-y growth of 17%. CIL as of same date last year produced 342 MTs. CIL hit the record time output of 400 MTs, 31 days ahead compared to 25 December of last year. The companys accelerated production brought down the asking annual growth rate to 6.9% from 12.4% at the years start. All the subsidiary companies of CIL sustained double digit production growth since the beginning of FY23 compared to preceding fiscal. CILs production peaked to 2.1 MTs as of the referred date which is the highest ever recorded single days output till November in any fiscal. Paving the path to increased production in the remaining months of FY23, the companys overburden removal (OBR) has been consistently logging an average of 5.4 million cubic metres (MCuM) per day during November till now. This level of OBR pace was never witnessed earlier. CILs OBR has risen into high orbit of 5.8 MCuM on 23 November which is yet another high. OBR is an important performance parameter that exposes the coal seam which simplifies the future extraction of coal. OBR also lends better mine geometry leading to ease of operations and improved safety. With the monsoon season ended most of the mines have been dewatered. The festive season is also over. There will be greater availability of machines and manpower leading to better production and productivity in the coming months.Powered by Capital Market – Live News