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By Rajesh Kumar Singh
May 3, 2016 - Coal India Ltd, the world’s biggest miner, cut production and shipments of the fuel for the first time in more than a year as sluggish demand caused stockpiles to swell. Output in April dropped 3.4% from a year ago to 40.09 million metric tonnes, while dispatches during the month fell 2.5% to 42.45 million mt, Kolkata-based Coal India said in a stock exchange filing. Output and shipments were the lowest since September.
Coal India’s production has outpaced the nation’s demand for the fuel over the past year as cheaper imports threaten to take away its customers. That has spurred customer-friendly marketing policies at the state-owned miner, which controls more than 80% of the nation’s production.
Coal stockpiles at the company’s mines had risen to almost 58 million tonnes as of 1 April because of lower off take by power utilities, federal coal and power minister Piyush Goyal informed lawmakers last month.
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