A leading media quoted Coal Minister Sriprakash Jaiswal as saying that the state-run miner Coal India (CIL) may exceed the output target of 482 million tonne (mn t) in 2013-14. In 2012-13, it produced 452 mn t of the fuel.
If it exceeds the target, the output of the firm would be at a five-year high, reports suggest. In 2013-14, CIL's output growth would be more than 6.7 per cent. The last time growth exceeded six per cent was in 2009-10.
CIL plans to raise overall coal offtake to consumers by 7.5 per cent to 500 mn t in 2013-14 against 465 mn t in 2012-13. It plans to attain this target by implementing two strategies - accelerating project expansions of about 18 mn t and higher liquidation of ground stocks.
In an indication of the improving performance, CIL had produced 37 mn t in April, exceeding the production target.
The monopoly coal miner is taking efforts to exceed the target at a time when the government plans to offload 10 percent stake in the firm during this year. Coal ministry plans to resolve issues troubling CIL investors, including payment dues before the follow-on public offer.
The company has consistently liquidated pithead stocks to raise supplies to power companies. Stocks fell from 70 mn t in April 2012 to 58 mn t in April this year. Through the past month, the stocks have further fallen to 53 mn t.