Coal Videsh, the company’s subsidiary, is looking to acquire coal mines in Africa, where huge reserves of coking coal have been found. A memorandum of understanding (MoU) with the South Africa government-controlled African Exploration Mining and Finance Corporation (AEMFC) has been signed. “The areas of collaboration include identification, acquisition, exploration, development and operation of coal assets in South Africa,” a Coal India representative has disclosed.
Coal India NSE 0.22 percent Ltd (CIL) announced a 10.6 percent rise in coal output to 115 million tonnes in the period July-September, following record production and off-take growth in September. The company's coal production increased by 31.6 percent and by 31.7 percent, the best ever in any September, according to an official statement.
Coal India produced 104 million tonnes of coal in Q2 last year and delivered 134.4 million tonnes of coal in the very same period, compared to 122.4 million tonnes at the same time the year before, with an increase of nearly 10%.
Supplies to coal-fired power utilities during Q2 amounted to 103.2 million tonnes and rose by around 3%. CIL delivered 100,67 million tonnes in the same quarter last fiscal year. Average rake loading during the quarter at 224.6 rakes per day showed a rise of 23.6 percent compared to 182 rakes loaded in the same quarter last year. Loading to the power sector at 189.7 rakes per day in Q2 resulted in a 16 percent raise over the previous year's Q2.
Despite the associated uncertainties of COVID and the inclement monsoon, our production increased by 11 MT and by 12 MT during the second quarter of the current fiscal year, said the company's senior official. Coal output at 40.51 million tonnes in September rose by 9.73 million tonnes compared to 30.78 million tonnes in the same time last year, the company's official statement said that the addition of its subsidiary Mahanadi Coalfields Ltd (MCL) recorded an increase of 68.5 percent, followed by Central Coalfields Ltd (CCL) 47.4 percent and Western Coalfields Ltd (WCL) 43.7 percent, according to the statement.
There is a plan to increase success in the months to come. As the plan is to regain as much of the lost ground as possible during the remainder of the fiscal year. An official said that overall output is higher in terms of production and supplies in the period of October – March of every year.
Coal India's coal production rose by 11,2 million tonnes in September to 46,46 million tonnes compared to 35,28 million tonnes in the same month a year earlier. MCL reported the highest off-take growth among its subsidiaries at 63 percent, followed by WCL 60.2 percent and CCL 31.5 percent.
Supplies to the non-power sector rose by 65 percent to 10.04 million tonnes in September compared to 6.08 million tonnes in the same month of the previous year. Coal shipments of 36.42 million tonnes to the power sector during the month saw a rise of 24.7% compared to 29.20 million tonnes as of September 2019, he said.
The company had loaded an average of 241,2 rakes per day in September against 162,2 rakes in the same month last year and registered an increase of 79 rakes per day with an increase of about 49 percent.
Loading to the non-power sector doubled to 31 rakes per day during the month compared to 15.4 rakes in September of last year. Loading to the power sector has risen by almost 43 percent to 210 rakes per day compared to 147 rakes for the comparable span.