Coal India Limited key facts
Coal India Limited is headquartered in Kolkata, West Bengal (India), and is one of the largest producers of coal in the world. The company was founded in 1975 and is a state-controlled mining company. Nationalization of the coal mines occurred due to poor labor conditions as well as haphazard mining practices in some mines. Coal India Limited accounts for approximately 82 percent of coal production in India alone. The company has approximately 80 mining areas throughout India, of which about 40 percent are open cast, 53 percent are underground coal mines, and the remaining are a mix. The country’s production of coal totals approximately 7.4 percent of the world’s coal production. India consumed about 407.2 million metric tons of oil equivalents in coal in 2015.
Coal India Limited has also increased their revenues from 12.1 billion U.S. dollars in 2010/2011 to 12.9 billion U.S. dollars in 2013/2014. Despite an increase in production and revenue, the number of employees working for Coal India Limited has decreased from approximately 510,600 in 2002/2003 to 313,829 in 2016/2017. During the fiscal year 2002/2003, Coal India Limited produced 260.69 million metric tons of coal and had increased to 598.6 million metric tons of coal by 2016/2017. Coal mining has increased in India, especially with pressure from a growing steel industry.