Home ECONOMY Coal India hopes for incremental production of 10-20 MT

Coal India hopes for incremental production of 10-20 MT

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Kolkata, Sep 10 :

The world’s largest coal miner Coal India Ltd (CIL), which has set a production target of 507 million tonnes (MT) for 2014-15, is hoping to increase its annual production by 10-20 MT this fiscal, a top company official said here Wednesday.

CIL Chairman and Managing Director A.K. Dubey said that due to necessary clearance by the Ministry of Environment and Forests (MoEF), the further exploitation of existing coal mines will help the miner get an incremental production of at least 10 MTA during this fiscal.
COAL-INDIA
“There are certain limits (of mining) which you cannot exceed and if you want to do that, you will have to get the necessary clearances.

“On certain considerations, the MoEF have permitted us to do that and we hope to get at least 10 MT which may go up to 20 MT within this fiscal year,” Dubey told mediapersons on the sidelines of the company’s 40th Annual General Meeting here.

CIL, which accounts for 80 per cent of domestic coal production, missed its output target of 482 MT for 2013-14, producing 462 MT during the period.

In 2012-13, the company produced 452.5 MT of coal, falling short of the 464 MT target.

Talking about the resignation of two independent directors, former coal secretaries Alok Perti and C. Balakrishnan, Dubey said it was their personal decision and the process of appointing their replacements was on.

Although Coal India had given notice to shareholders on moving a resolution for seeking ratification of their appointment at Wednesday’s AGM, the duo Tuesday put in their papers.

“That’s their personal choice. Everybody has the right to decide wherever they want to work. As regards appointment of their replacements, the process is on,” said Dubey.

(IANS)