Coal India Ltd.

India is both the world’s 3rd largest coal producer and the world’s 3rd largest coal importer1. In 2013, it produced 613 million tons of coal, and imported a further 180 million tons2. Just one company – Coal India Limited (CIL) – accounts for over 80% of the country’s coal production. With 462 million tons annual production (mtpa)3, Coal India claims to be the world’s biggest coal producer4. CIL was established in the 1970s when coal mining was nationalised in India5 and is 90% government-owned, with the remaining 10% held by international investors following an initial public offering (IPO) in 2010. Coal India has been a member of the UN Global Compact since 20106. As of December 2014, the Norwegian sovereign wealth fund and the AMP-RIL- Fund have excluded Coal India from their investment universe.

Coal India has received multiple criticisms based on the severe environmental damage it has inflicted and the unbearable working conditions in its mines, which were the site of around 205 deaths and 700 injuries in 2010 alone. Furthermore, the company is accused of recklessly destroying wildlife habitats, many of which are occupied by the endangered Indian tiger. Coal India was nominated for the Worst Company of the Year 2013 by the Public Eye Awards.


Investor information correct as at publication of Dirty Profits 3.


Current major shareholders according to Morningstar

Current investors according to Moneycontrol


  1. World Coal Association: Coal Statistics (accessed 9.10.2014) []
  2. World Coal Association: Coal Statistics (accessed 9.10.2014) []
  3. The Economic Times (2014): Coal India output at 462 MT; misses FY’14 target; 7 April (accessed 27.10.2014) []
  4. Coal India: Welcome to Coal India Career Portal (accessed 27.10.2014) []
  5.  Urgewald, BankTrack, CEE Bankwatch Network, Polska Zielona Sieć (2013): Banking on Coal, p.51 (accessed 9.10.2014) []
  6. UN Global Compact (2014): Participants & Stakeholders: Coal India (accessed 27.10.2014) []