India's Coal Production Set To Reach 850-900 Million Tonne By End Of FY23: CareEdge

CareEdge Research Report

India’s coal production reached a new milestone of 698 million tonne during year-to-date FY23 (April- January 2023), a 16% YoY growth, driven by a 15.2% YoY increase in production by Coal India Ltd.

The power sector continued to be the largest consumer of domestic coal, accounting for the total despatches of 609 million tonne during ytd-FY23, an increase of 10.5% YoY.

Total coal imports surged by 25.6% YoY to 191.82 million tonne during April-December 2022 with non-coking coal driving the imports.

International coal prices of major global benchmarks have started cooling off in the past few months due to softening of global demand.

Under the sixth tranche of commercial coal mines auction under the 'Coal Mines (Special Provisions) Act 2015 and Mines and Minerals (Development and Regulation) Act 1957', 141 coal/lignite mines have been offered for sale.

A total number of 96 bids were received under two tranches of auctions – the sixth and second attempt fifth tranche. Till date, 48 coal mines have been allocated under the first five tranches.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.