The miner is expected to achieve its 2016/17 production target of 575 million tonnes and aims to raise output to 1 billion tonnes by 2020, Susheel Kumar told television news channel CNBC-TV18 in an interview.
Coal imports declined by 19.2 percent to 16.38 million tonnes last month on the back of sufficient availability of domestic fuel.
"Northern Coalfields Ltd (NCL)... has declared an Interim dividend of Rs 14,884.05 per share of Rs 1,000 each on 17,76,728 equity shares, amounting to Rs 2,644.49 crore for the period ended December 31, 2015," Coal India (CIL) said in a BSE filing.
The government is eyeing to achieve 1.5 billion tonnes of coal production by 2020. The company's output in December 2015 was 5.74 MT, a rise of 12.99 percent from 5.08 MT in December 2014, an official said.
The company's net profit in the corresponding quarter of the previous fiscal was Rs 2,192.38 crore, Coal India (CIL) said in a filing to BSE.
The closing of the Russell Vale colliery 100 kms (62 miles) south of Sydney comes amid widening losses reported by operator Wollongong Coal, majority-owned by Jindal.
New Delhi is seeking to raise as much as USD 11 billion by selling stakes in state-run companies this fiscal year, crucial to narrowing the fiscal deficit to a planned 3.9 percent of gross domestic product in 2015/16.
Coal India last week raised prices of its low-grade coal by 10 percent while lowering the price of higher grade coal by 12 percent.
Coal India Ltd, the world's largest coal miner, has finalised a production target of 492 million tonnes for the fiscal year that starts on April 1, about 6 percent higher than the current year's expected production.
Shares in Bumi, the FTSE 250 coal miner, lost a third of their value on Monday after it announced an inquiry into potential financial irregularities at its Indonesian unit.
State-owned Coal India (CIL) today said it has fixed a production target of 468.74 million tonnes (MT) for the current fiscal.
Coal India, the world's largest coal miner, witnessed 74% rise in Q2 net profit on a year-on year basis, given the rise in coal prices. Its net profit for Q2 stood at Rs 2,593 crore.
Reliance Industries, for long the darling of Indian investors, was knocked off its four-year long perch as the country's most valuable company, as fears over slowing gas production dragged its stock down almost 30% this year and led to the first full day of trade with Coal India on top.
Coal India, the world's largest coal miner, is in advanced talks to buy up to 40% stake in Indonesia's Golden Energy Mines in a deal valued at between USD 750 million and USD 1 billion, three sources with direct knowledge said on Thursday.
Rio Tinto's energy chief executive Doug Ritchie, said on Tuesday the company is very pleased with the level of acceptances on its USD 4 billion bid for rival Riversdale Mining and would not alter the fundamental terms of the offer.
Investors are betting global miner Rio Tinto will settle for a minority stake in Africa-focused Riversdale Mining after its A$3.9 billion (USD 4 billion) takeover bid failed to secure control of the firm just hours away from the offer deadline.
China's Yanzhou Coal Mining Co and Aditya Birla group are among parties preparing to submit second-round bids for Australian coal miner Whitehaven Coal which is seeking offers of more than USD 3.5 billion, sources said on Tuesday.