Coal India Ltd.

Coal India has decided to close down 23 unviable mines and it would help save the company around Rs 500 crore considering all costs. The world’s largest miner has shut down 82 such mines in the last three-four years. Those 23 mines, comprising open cast and underground ones, to be closed down were identified in the last fiscal.

Underground mines are a major focus for closures as they are not remunerative. Some 158 underground mines employ 43 per cent of the workforce but contribute only 5 per cent of the total production,

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.