Coal India plans to close loss-making underground mines

Last Modified: Tue Sep 12 2017 18:08:50 GMT+0530 (India Standard Time)
  • 413
    Total number of mines that are in operation (in 2017). 207 - Underground, 176 - Opencast, 30 - Hybrid.
  • 100
    or so coal mines are planned to be shut by Coal India Limited (CIL) over the next 2-3 years because they are unprofitable. Low grade coal extracted from mines that produce less than one million tonnes a year are generally considered unprofitable as the scale of operation in them do not support the cost involved vis-à-vis the price its coal fetches.
  • 37
    loss making underground mines will be closed for production by Coal India in the current fiscal (2017-18). Muted coal demand and eroding profitability have forced Coal India to take this step.
  • Rs 800 crore
    estimated savings to Coal India from these closures. The savings could be as high as Rs. 1,000 crore.
  • 15,000
    workers from the closed mines will be redeployed without loss of salary.
  • 60
    underground mines belonging to Coal India's four subsidiaries - Eastern Coalfields (ECL), Bharat Coking Coal (BCCL), South Eastern Coalfields (SECL) and Central Coalfields (CCL) - have been identified for closure in phases.
  • 12
    Number of coal mines closed in first 5 months of fiscal 2017-18.