Coal India to post marginal contraction in production in FY21: Report
World’s largest miner Coal India is likely to post marginal contraction of its output for the year 2020-21 by 5-6 million tonne in 2020-21 as its production will below the 600 million mark, sources said on Sunday.
In 2019-20, the miner produced 602 million tonne down from 606.9 million in 2018-19 when it registered its highest production.
It will be the second year in a row when the miner will register degrowth. The miner had projected a 660 million tonne production target and by mid-year the company had been expecting to attain 630-640 million tonne of output.
Officials attributed Covid-19 disruptions as the key factor behind lower demand resulting in a stockpile building up, compelling the mining giant to moderate output.
