3.8% growth in production, 7.4% in offtake over previous year
Coal India mined 452.2 million tonnes of coal in the complete financial year of 2012-13. This is nearly 12 million tonnes less than the output target set for the public sector miner. It had been reported that Coal India may fall short of nearly 12 million tonnes from its annual production target of 464.10 million tonnes last month.
The miner achieved nearly 97% of its target and reported 3.8% growth in production when compared to the previous year. However, to the relief of the customers, offtake mark up to 99% of the target. Coal India delivered 465.2 million tonnes of fuel to its customers against the target of 470 million tonnes. This is 7.4% higher than 2011-12.
"The dip in production is because during the October-November period heavy rains and cyclone Neelam pulled down the output. Besides, October-November are also festival months when most of the workers go on leave," official sources said.
Meanwhile Coal India Ltd (CIL) has proposed an ad-hoc provision of Rs 35,000 crore for acquisition and development of mines abroad by 2017, government has said. Of the proposed amount, “Rs 25,000 crore has been kept for acquisition and development of coal blocks in other countries like South Africa, Indonesia, Australia, USA, Columbia,” minister of state for coal Pratik Prakashbapu Patil said in a written reply to Rajya Sabha.
He said the remaining Rs 10,000 crore has been allotted for exploration and development of two allotted coal blocks in Mozambique during the 12th Five-Year Plan (2012-17) besides creating logistic infrastructure there. The minister said that the annual production expected from coal assets abroad would depend upon the specific production potential of each of such coal block or mine.
“The decision regarding use of additional production envisaged and the companies to whom such coal will be sold would depend upon the type/quality of saleable coal available from CIL and mines in Mozambique and other coal assets expected to be acquired in other countries,” he added.
Patil said CIL has also proposed for an investment outlay of Rs 25,400.00 crore for the 12th Five-Year Plan including Rs 11,385 crore on ongoing projects, Rs 2,491 crore on new projects and Rs 7,039 on non mining projects.
The coal major, which accounts for over 80% of the domestic production, has already issued a notice on 27 February inviting proposals from investment bankers, owners/representatives for acquisition of coal assets abroad.
Coal India mined 452.2 million tonnes of coal in the complete financial year of 2012-13. This is nearly 12 million tonnes less than the output target set for the public sector miner. It had been reported that Coal India may fall short of nearly 12 million tonnes from its annual production target of 464.10 million tonnes last month.
The miner achieved nearly 97% of its target and reported 3.8% growth in production when compared to the previous year. However, to the relief of the customers, offtake mark up to 99% of the target. Coal India delivered 465.2 million tonnes of fuel to its customers against the target of 470 million tonnes. This is 7.4% higher than 2011-12.
"The dip in production is because during the October-November period heavy rains and cyclone Neelam pulled down the output. Besides, October-November are also festival months when most of the workers go on leave," official sources said.
Meanwhile Coal India Ltd (CIL) has proposed an ad-hoc provision of Rs 35,000 crore for acquisition and development of mines abroad by 2017, government has said. Of the proposed amount, “Rs 25,000 crore has been kept for acquisition and development of coal blocks in other countries like South Africa, Indonesia, Australia, USA, Columbia,” minister of state for coal Pratik Prakashbapu Patil said in a written reply to Rajya Sabha.
He said the remaining Rs 10,000 crore has been allotted for exploration and development of two allotted coal blocks in Mozambique during the 12th Five-Year Plan (2012-17) besides creating logistic infrastructure there. The minister said that the annual production expected from coal assets abroad would depend upon the specific production potential of each of such coal block or mine.
“The decision regarding use of additional production envisaged and the companies to whom such coal will be sold would depend upon the type/quality of saleable coal available from CIL and mines in Mozambique and other coal assets expected to be acquired in other countries,” he added.
Patil said CIL has also proposed for an investment outlay of Rs 25,400.00 crore for the 12th Five-Year Plan including Rs 11,385 crore on ongoing projects, Rs 2,491 crore on new projects and Rs 7,039 on non mining projects.
The coal major, which accounts for over 80% of the domestic production, has already issued a notice on 27 February inviting proposals from investment bankers, owners/representatives for acquisition of coal assets abroad.
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