Coal India Ltd.

Coal India, the world's largest coal miner by output has missed its supply target for the fiscal year 2012-13 by 4.8 million tones. The state-run miner, which produces about 80 per cent of country’s coal output, reported off-take of 465.2 million tonnes for the year against the target of 470 million tones. Further, the company also missed its production target of 464.1 million tonnes for the year by 11.9 million tones.

Recently, the company reported that it is planning to form a majority joint venture (JV) with the provincial government of Limpopo in South Africa for acquiring coal assets overseas. Mining contributes nearly a fifth of the domestic product of Limpopo, located on the northern most tip of South Africa. However, the company’s board as of now sought clarifications on draft agreement with the Limpopo government on responsibilities to be shared between them while acquiring mines through a JV.