KOLKATA | March 10, 2016: Coal India has informed the BSE that regulated lifting of coal by power houses has resulted in increased stocks at some of its mines.
"Increase in stocks will create stock management problems, deterioration in the quality of coal, and they may even catch fire. As such, some of the mines have regulated production," CIL said. ET broke the story on March 4 following which BSE asked for a clarification.
Coal India, in its clarification, admitted that it has been forced to regulate production at some of its mines. In fact, it has been forced to temporarily stop production at several mines and suspend shifts in others, because there are no takers due to surplus coal stock at all thermal power plants.
(Source: http://economictimes.indiatimes.com/)