Coal India Ltd.’s monthly production dropped to a record low as the heaviest rains in 25 years flooded mines and hindered shipments.
The Kolkata-based state miner produced 30.77 million tons of coal in September, down 24 per cent from a year earlier and the lowest in data back to 2013, according to a stock exchange filing Tuesday. Shipments dropped 20 per cent to 35.18 million tons, the lowest in five years.
The slump in output and shipments at the world’s biggest coal producer is squeezing supplies to customers, including power plants, aluminum smelters and cement companies. Coal inventories at the country’s power plants have declined to a nine-month low, spurring higher imports.
