< Coal India records 9.3 percent production growth till March 7 | Current Affairs, Current Affairs 2019

Coal India records 9.3 percent production growth till March 7

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calThe world’s largest coal miner Coal India achieved 9.3 percent growth in production in the current fiscal up to March 7 compared to the same period last year, the company said in a filing to the BSE.

The company also recorded a growth of 41.81 million tonnes in absolute terms till March 7 of the ongoing 2015-16 fiscal, as against the same time-frame a year ago, the company said.

“As on March 7, 2016, the company has achieved a positive growth of 9.3 percent and absolute growth of 41.81 MT compared to the last year same period,” it said in the filing.

The company earlier reported 9.2 percent production growth in the first 11 months of the current fiscal over same period last year.

The Coal miner also clarified that some of its mines have regulated production to ward off any problem of increase in stock due to “regulated lifting” of the power companies.

“Due to regulated lifting of the power houses, coal stock has increased in some of the mines of Coal India. Increase in stock will create stock management problems, deterioration in quality of coal and the coal may catch fire. As such some of the mines have regulated production.”

The Stock exchange last Friday had asked the company to clarify its stance on its mines’ production.

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