Officers of different Coal India Ltd subsidiaries on Wednesday staged a demonstration in front of the mining major’s headquarters here to press for wage-related demands.
Coal India Ltd. (CIL) may close down 53 underground mines in 2018-19 even as it looks for solutions to these mines which it had inherited as a legacy of the pre-nationalisation days, said Anil Kumar Jha, Chairman, CIL.
Coal India Ltd (CIL) is optimistic about an aspirational production target of 652 million tonne for the fiscal year 2018-19, the mining major’s Chairman A K Jha said on Wednesday.
For Coal India Ltd, August marked the slowest production and offtake growth so far in this fiscal year. While production increased 3.2% year-on-year, sales volume went up by 3.5%. The miner accounts for more than 80% of the country’s coal output.
Coal India Ltd, the world’s biggest miner, has pushed back its ambitious 1 billion tonne production target by at least two years owing to the existing ground realities, a top official of the company has said.
Coal India and its eight subsidiaries are likely to have six board level-posts falling vacant in the next eight months while additional nine positions are already vacant at a time when the company is struggling to meet the country’s demand for coal.
Coal is once again helping avert electricity shortage by making it possible for thermal power stations to raise output to more than 103% of their scheduled production target with a view to bridging generation shortfall from hydro-electric plants.
Coal India Ltd (CIL) on Monday said the fuel dispatch to power sector grew by 15 per cent in the April-May period of the current fiscal.
At first glance, Coal India Ltd’s (CIL’s) reported March quarter consolidated Ebitda looks miserably low at just Rs196 crore. But employee costs rose a whopping 80% against the year-ago period, which included Rs7,384 crore towards provisions for an increase in the gratuity ceiling. This is one-off in nature. Adjusting for this, earnings are better than expected, say analysts.
The world’s largest miner, Coal India Ltd, now aspires to be the “most-efficient” coal producer, with an aim to bring down costs to a “bare minimum” level as the sector opens up for commercial mining.