Coal India Ltd., the world’s biggest producer of the fuel, reported its second straight year-on-year increase in monthly production following a surge in demand from power plants.
Output in September rose 10 per cent to 38.8 million metric tons, while shipments, which climbed for the eleventh consecutive month, advanced 15.5 per cent to 43.6 million tons from a year earlier, according to a company filing on Tuesday. Output and shipments surpassed targets and were the highest for September, data going back to 2013 shows.
The Kolkata-based state-owned miner, which trimmed its output and shipment targets this financial year anticipating slower-than-expected demand growth, increased mining in the last two months to meet a sudden spurt in demand. Lower generation from non-fossil sources including hydro, wind and nuclear boosted generation at coal-based power stations. Read More…
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