Coal India Annual Production Drops For Second Straight Year

The state-run miner produced 596.2 million tonnes of coal for the year ended March 31, compared with 602.1 million tonnes last year. Coal sales fell 1.3 per cent to 573.8 million tonnes

Coal India Annual Production Drops For Second Straight Year

Coal sales fell 1.3 per centto 573.8 million tonnes

Coal India Ltd, the world's largest coal miner, said on Thursday its annual production fell for the second straight year, as lower electricity consumption due to coronavirus-induced lockdowns hurt fuel demand. The state-run miner produced 596.2 million tonnes of coal for the year ended March 31, compared with 602.1 million tonnes last year. Coal sales fell 1.3 per cent to 573.8 million tonnes, the company said in a statement. 

"Primarily, what hurt Coal India's supplies was reduced coal lifting by the power sector," the miner said. A lack of supplies has led to an inventory of 99 million tonnes, rising by about 25 per cent from the same period last year, it added.