CIL hits bull's eye on offtake, but output tumbles

Company has reported a provisional production of 44.37 million tonnes as against its target of 46.84 million tonnes

Coal India, the world's largest coal miner, has reported a provisional production of 44.37 million tonnes as against its target of 46.84 million tonnes in October 2015.

However, its offtake for October stood at 44.41 mt against a target of 44.31 mt.

Coal production and offtake by Coal India rose by around 23 mt and 26.65 mt, respectively, for April-October of the current fiscal.

CIL's cumulative production touched 273.91 mt for April-October 2015 as against 250.94 mt in the same period of the previous fiscal, a growth of 9.2%.

During April-October, offtake was 295.80 mt compared with 269.15 mt a year earlier.

Over Burden Removal (OVR), a key performance matrix, which exposes coal for future mining, continued its surge growing 37.3% in the first seven months of the current fiscal.