Coal India Output Sinks to Record Low as Monsoons Flood Mines
- Shrinking output and shipments squeeze supplies to customers
- Heaviest rains in 25 years also cut shipments 20% year-on-year
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Coal India Ltd.’s monthly production dropped to a record low as the heaviest rains in 25 years flooded mines and hindered shipments.
The Kolkata-based state miner produced 30.77 million tons of coal in September, down 24% from a year earlier and the lowest in data back to 2013, according to a stock exchange filing Tuesday. Shipments dropped 20% to 35.18 million tons, the lowest in five years.