Coal India inks MoU with Ministry of Mines to bolster critical minerals technology

Coal India Limited (CIL) on Tuesday, March 18, said it has entered into a Memorandum of Understanding (MoU) with the Non-Ferrous Materials Technology Development Centre (NFTDC).

The non-binding MoU, signed on March 15, 2025, in Hyderabad, aims at bolstering technology development and expertise in the critical minerals sector.

NFTDC, an autonomous R&D institution under the Ministry of Mines, will partner with Coal India to drive innovation and advancement critical minerals sector.

The alliance also aligns with the government's focus on self-reliance and technological advancement in the mining sector.

Earlier this month, Coal India reported its production for February declined by 0.8% from last year to 74.1 MT. For the full year, production is up only 1.5% year-on-year to 695.3 MT. This is 83% of the company's overall production target of 838 MT for financial year 2025.

The company is now left with an output target of 142 MT in the month of March, which will be the last month of the current financial year, in order to meet its guidance for the current financial year.

Offtake for the month of February also declined by 4.8% from last year to 62.1 MT. For the year so far, offtake stood at 693.4 MT, a growth of 1.3% year-on-year.

Brokerage firm Morgan Stanley called the decline in offtake "a key negative".

It called the slow pick-up in power demand as a key factor behind the drag in production and that inventory digestion may further impact offtakes, Morgan Stanley said.

Coal India shares were trading 1.28% higher at ₹390.7 apiece at 12.40 pm on Tuesday, March 18. The stock has declined 19.8% in the last six months.

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