financetom
Business
financetom
/
Business
/
NCL supplies 87% of total coal to power producers in FY21
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
NCL supplies 87% of total coal to power producers in FY21
Apr 5, 2021 7:29 AM

Coal India Ltd (CIL) arm NCL has said it supplied 87 percent of its total coal to electricity producers in the last fiscal year, thereby fulfilling the power aspiration of the country in these unprecedented times. There was also about 14 percent increment year-on-year in the average supply of coal rakes to upcountry consumers, the PSU said in a statement.

Northern Coalfields Ltd (NCL), the Singrauli-based miniratna company, surpassed its fiscal production milestone of 113 million tonne (MT) and produced 115.05 MT in 2020-21 with 6.47 percent year-on-year growth. The company has also surpassed its annual overburden removal (OBR) target of 370 million cubic metre, and removed a whopping 374.17 million cubic metres of overburden with a year-on-year growth of 15.76 per cent in the last fiscal year, it said.

Overburden is the material above coal seam that is required to be removed above coal layer for ready exposure. OBR is an important factor to determine a mining company’s output and growth. On this achievement, NCL CMD Prabhat Kumar Sinha congratulated the team and said that even in the testing time of the pandemic, the company’s coal warriors have proven themselves with their unwavering commitment towards energy security of the nation.

The top management has expressed hope that the company will continue to ride the wave with the same synergy. Promoting the sustainable and green mode of transportation, the company has supplied 12 percent more coal using rail mode to consumers, it said. Also, 2.3 percent growth was observed in Merry-Go-Round (MGR) mode of coal transportation, the company said.

NCL supplies about 52 MT of coal through dedicated MGR transportation mode which is directly linked to thermal power plants. In a crucial pro-environmental step, a remarkable decline of 24 percent was seen in coal transportation through road mode in spite of year-on-year growth in the company’s coal dispatch.

NCL operates with 10 highly mechanised opencast coal mines spread in Singrauli and Sonbhadra districts of Madhya Pradesh and Uttar Pradesh, respectively. NCL is eyeing 130 MT coal production by 2023-24.

First Published:Apr 5, 2021 4:29 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Form 8.3 - NCC group plc
Form 8.3 - NCC group plc
Oct 23, 2025
LONDON--(BUSINESS WIRE)--   FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: First Trust Advisors L.P. (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee...
Exclusive-Owners of utility-focused Conservice exploring sale at valuation as high as $5 billion, sources say
Exclusive-Owners of utility-focused Conservice exploring sale at valuation as high as $5 billion, sources say
Oct 23, 2025
NEW YORK (Reuters) -Advent International and TA Associates are exploring the sale of utility management and billing company Conservice that could value it at between $4.5 billion and $5 billion, people familiar with the matter said. The private equity firms are working with investment bankers at Evercore on the sale, which is in its early stages, the people said, asking...
NioCorp, Lockheed partner on Pentagon-funded scandium alloy work
NioCorp, Lockheed partner on Pentagon-funded scandium alloy work
Oct 23, 2025
Oct 23 (Reuters) - Rare earths miner NioCorp Developments ( NB ) said on Thursday it has signed an agreement with U.S. defense contractor Lockheed Martin ( LMT ) to support development of scandium-based technology under a Pentagon-funded program. The program aims to produce prototype aluminum-scandium alloy components intended to expand the capabilities of modern fighter aircraft, NioCorp said. The...
Rocket Lab Stock Is Gaining Momentum: What's Going On?
Rocket Lab Stock Is Gaining Momentum: What's Going On?
Oct 23, 2025
Rocket Lab Corporation ( RKLB ) shares are trading higher on Thursday. The company announced progress on its LOXSAT mission for Eta Space and NASA, and scheduled its third-quarter financial results. What To Know: Rocket Lab ( RKLB ) announced that it completed its Systems Integration Review (SIR) and finished building its Photon spacecraft for the LOXSAT mission. The review,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved