Coal India's annual output falls for first time in two decades [Reuters]
Peabody Energy Corporation (BTU)
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Source: Reuters
Coal India's annual output falls for first time in two decades CHENNAI (Reuters) - Coal India’s ( COAL.NS ) annual production fell for the first time since 1998/99 as the heaviest rainfall in 25 years battered coal mining regions and a broad economic slowdown stifled demand for the fuel. The world’s largest coal miner produced 602.1 million tonnes of coal during the fiscal year ended March 2020, compared with 606.9 million tonnes in 2018/19. India used nearly a billion tonnes of coal in 2018/19, over three-quarters of it at power plants. State-run Coal India accounts for over 80% of the country’s production. The worst economic slowdown in Asia’s third largest economy in six years saw electricity usage fall at the steepest pace in over a decade in October, reducing demand for the fuel. The slowdown coincided with a fall in coal production. Still, imports of thermal coal - mainly used for electricity generation - rose 12.6% to nearly 200 million tonnes in 2019, the second straight yea
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