Coal India production surges 11% to 47.3 MT in July

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Coal India Limited (CIL) reported an 11 percent hike in its July 2022 production to 47.3 million tonnes (MT) as against 42.6 MT a year back, CNBC-TV18 reported.

The output reached 51.56 MT in June 2022 from 40.01 MT a year ago.

India's total production of coal surged 8.55 percent to 777.31 MT year-on-year. In April FY23, the production was reported at 53.47 MT and 54.72 MT in May.

CIL shares traded 1.11 percent higher at Rs 213.60 at 2:03pm on August 1, according to the NSE website. While it was trading at Rs 213.55, up 1.04 percent on August 1, 2022, at 2:04 PM, as per the BSE official website.

According to official data, CIL and its subsidiaries accounted for 596.219 MT of coal production during FY21 as compared to 602.129 MT in FY20, showing a fall of 0.98 percent. Coal production by CIL in FY22 grew 4.43 percent to 622.640 MT.

According to media reports, CIL is implementing a plan to operationalise 14 mines through the engagement of mine developers and operators (MDOs). These mines have a combined capacity of 165.58 MT per annum.

"These mines would contribute in sizable quantities towards production in the coming years," news agency PTI quoted Coal India Chairman and Managing Director Pramod Agrawal as saying in an address to shareholders in the company's latest annual report.