India's coal production reached a new milestone in fiscal year 2024 (FY24), totaling 997.4 million tonnes, marking an 11.67% rise from the previous year but falling short of the 1-billion-tonne target, as stated by the coal ministry on Monday. In FY23, production amounted to 893.19 million tonnes.
Meanwhile, Coal India Ltd (CIL) achieved a production of 773.6 million tonnes of coal in FY24, a 10% increase year-on-year. According to a statement from the state-owned miner, coal output in March peaked at an unprecedented 88.6 million tonnes, the highest ever recorded in a single month.
For the current fiscal year, Coal India has set an ambitious production and supply target of 838 million tonnes, aligning with the government's aim to eliminate coal imports for the power sector by the end of FY26.
Coal supplies to the power sector increased by 5.4% year-on-year, totaling 618.5 million tonnes in the recently concluded fiscal year, compared to 586.6 million tonnes in FY23. The company exceeded its target by supplying 8.5 million tonnes more coal to power plants than the set goal of 610 million tonnes for the year.
Furthermore, coal supplies to the non-power sector surged by 25%, reaching 135 million tonnes, up from 108.1 million tonnes in FY23.
By the end of FY24, coal stockpiles at mine pitheads were approximately 90 million tonnes, nearly 30% higher compared to the previous year.
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