COAL INDIA LIMITED
Dated: 03 August, 2011
Coal India's record stock liquidation
During the first four months of the current fiscal April-July 2011 Coal India Limited (CIL), the world’s largest coal miner, liquidated a record 14.50 Million Tonnes (MTs) coal from its built up stocks. In the month of July 2011 alone CIL was able to reduce its stock through off-take to the tune of 4.62 MTs. Against a coal production of 31.18 MTs in July 2011 CIL’s off-take was 35.80 MTs. Incidentally, CIL had declared the fiscal 2011-12 the “Year of Off-take” in an effort to increase its coal supplies and reduce the pithead stocks.
CIL began the financial year with pithead coal stock of 69.17 MTs, which stood at 54.66 MTs as on 31 July 2011. In absolute terms the stock liquidation is 7.39 MTs more than same period previous fiscal.
Coal off-take during April-July 2011 was 141.99 MTs against a production of 127.49 MTs. It means CIL supplied 14.50 MTs of coal more than what was produced during the said period. This entire additional supply came from its pithead stocks.