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India's coal production hits record high

sxcoal.com Production & Sales,  International 2023-04-03 10:43:58

India's coal production in the 2022-23 fiscal year (April 2022 - March 2023) is expected to reach 982.2 million tonnes, an increase of 14.65% from 778.2 million tonnes in the 2021-22 fiscal year, setting a new record, Pralhad Joshi, Indian Minister of Coal, said on April 1.


Joshi indicated that the production exceeded the annual target, which is a historical moment for India.


Production of state-run Coal India Ltd. reached 703.4 million tonnes, an increase of 12.94% from 622.6 million tonnes in the 2021-22 fiscal year, the first time it had exceeded the production target since the 2005-06 fiscal year.


The production of another state-run company SCCL was 67.14 million tonnes, an increase of 3.25% from 65.02 million tonnes in the previous fiscal year; that of captive mines and other mines reached 122 million tonnes, an increase of 34.59% year on year.


The minister said that the Indian coal industry will continue to meet India's growing energy needs. India has abundant coal reserves and its goal is to start exporting coal from the 2024-25 fiscal year.


"India is transitioning from a net importer of coal to a net exporter of non-coking coal," Joshi said.


India's power demand has grown rapidly in recent years, driven by the economic recovery from the pandemic. Total electricity consumption increased by 8% in February 2023 compared with the same month a year earlier and by 13% compared with February 2021, according to the Grid Controller of India.


Strain on the power system will increase as temperatures rise towards their summer peak in June and again in September-October after the monsoon fades.


Currently, coal stockpiles at power plants across the nation are equivalent to 12 days of use. The power ministry cautioned a coal supply shortfall of 21 million tonnes in April-June due to domestic transport bottlenecks, suggesting higher demand for imported coal.


(Writing by Alex Guo  Editing by Harry Huo)
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