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PTI reported that Coal India Limited has decided to close down 23 unviable mines and it would help save the company around INR 500 crore considering all costs. Those 23 mines, comprising open cast and underground ones, to be closed down were identified in the last fiscal. CIL said "Action is being taken to close the unviable mines in CIL in a phased manner. Production from 11 such underground mines has already been suspended.”

 

CIL has shut down 82 such mines in the last three-four years. Underground mines are a major focus for closures as they are not remunerative. Some 158 underground mines employ 43% of the workforce but contribute only 5% of the total production.

source：SteelGuru Business News