India's coal shortages to worsen

Coal India reduces production target State-controlled Coal India Limited (CIL) announced that it has lowered its production target for the fiscal year to 440 million metric tons, down from the 452 million tons initially outlined in the company's annual plan, according to an Economic Times article. Indian news agency PTI has quoted CIL Chairman N.C. Jha as confirming that they have kept the production target of at least 440 million tons. While speaking to media on the sidelines of the International Conference of Safety in Mines Research Institutes in New Delhi, the chairman cited various reasons such as heavy rainfall, strikes and delays in obtaining forestry and environmental clearances for coal projects as the causes of the productions target's downward revision. Currently, CIL's production is 10 percent below target, with a decrease of 3.9 percent as compared to the last year's output. Continue reading this article at Stockhouse.com.