CIL expects 2.5% growth in coal output this fiscal
Coal India is expecting to close the current fiscal year with 2.5 per cent growth in production. The miner also targeted a 2 per cent increase in coal off-take. The company achieved a 9-per cent growth in coal production in the last financial year.
On Tuesday, Coal India's Director (Marketing) S N Prasad said: "The Coal India is expecting a production growth. It would be around 2.5 per cent by the conclusion of on-going fiscal. Our off-take will have 2 per cent growth," Prasad said at a conclave organised by Bharat Chamber of Commerce.
Speaking on 'Coal: Emerging Perspectives and Challenges', he also said that in the current year, the production was influenced by issues at Talcher mines and those related to rehabilitation and resettlement. Coal India had a set a target production 598.61 million tones for in 2016-17. It was 11.11 per cent higher over 538.75 million tones of production in 2015-16.
The data showed that Coal India's production grew in current fiscal — from April 2016 to February 2017 — by 2.3 per cent. The off-take was 490.86 million tonnes during the period.
Around 100 million tonnes of coal stock was available at pit heads and thermal power plants.
However, the cocking coal price will stable between $140-150 per tonne in next 3 to 5 years, said Steel Authority of India's (SAIL) executive director (collieries division) SK Basak at the same prorgamme.
"It is only my prediction. But my prediction is that the coking coal price will stabilise between $140-150 per tonne in the coming 3-5 years," Basak said in the same programme.
He also said that the international coking coal prices was at a peak at $308.8 per tonne in 2016 and now it has dropped to to $151 a tonne.
In the last month, the coking coal price slightly rose to $160 per tonne due to a Chinese ban of coal import from North Korea.