Addition to proven reserves last year was considerably higher than the average rate reported in the last few years the company said in a statement. During FY 2018-19 CMPDI reported a Rs 1274 crore turnover with growth of about 10% over the previous year.
During 2018-19, CMPDI through departmental drills carried out 5 lakh meter of drilling with productivity of 619 per drill per meter, which is the highest in the history of CMPDI with a growth of about 11 % over previous year. This was achieved by adopting modern technology.
CMPDI was upgraded from category-II Mini-Ratna to category-I Mini Ratna company. The company has been actively involved in reclassification of coking coal to account for unclassified low volatile medium coking (Ash > 35%) coal resources available in Bharat Coking Coal Ltd and Central Coalfields Ltd. This resulted in addition of washery grade-V (exceeding 35% and up to 42% ash) & washery grade-VI (exceeding 42% and up to 49% ash) which will result in considerable financial benefit to related subsidiaries and foreign exchange saving through reduction in coking coal imports.
CMPDI has prepared a total 287 report, including 24 geological reports, 31 project reports and 84 Form-I/EMP. Draft project report of Mandar Parvat was prepared. This will be the first coal mine of Bihar.
CMPDIL chairman and managing director, S Saran said in a statement that it is necessary to start new work after searching for potential in sectors other than coal so that revenue and experience can be widened.