State-owned Coal India Ltd. (CIL) said on Friday that it had surpassed the annual coal production target of 700 million tonnes (MT) in 2022–2023. According to a statement from the miner, as of Thursday, March 30, the firm produced 700.4 MT of coal, up 13% from 619.8 MT on the same date last year.
“One day before the end of FY23, the CIL has surpassed its ambitious output goal of 700 MT. If the current pace of production continues, the CIL will probably end FY23 with 703.6 MT of output. In the prior fiscal year, it generated 622.6 MTs “added it.
Everyone of our subsidiaries went above and beyond to contribute their very best in order to meet the demanding goal of 700 MTs, according to the statement.
In FY23, there was an 81 MT year-over-year rise in production. The previous high of 44.5 MT walk reported in 2015–16 is outperformed by almost twofold.
Mahanadi Coalfields Limited (MCL), an Odisha-based subsidiary of CIL, increased production by 25 MT from the previous year to 192.8 MT in FY23. It made up 27.5% of the overall production of CIL.
Production at South Eastern Coalfields Ltd. increased by 24.3 MT to 166 MT as of March 30 from 142.5 MT the previous year.
With 1,651.7 M.Cu.M (million cubic metres), the CIL’s overburden removal (OBR) set a new record as of March 30. 1,362 M.Cu.M. stood as the previous record.
“Growing OBR is a positive sign that will help CIL ramp up production in the first quarter of FY24, especially given the hard target of 780 MT. OBR allows for faster coal production while exposing the coal seam for future readiness “added the statement.