Coal India’s e-auction may impact 50 MT sales in H2 FY2023

0
8


New Delhi: In the second half of the current financial year, Coal India plans to sell 50 million tonnes of coal through electronic auction, a top company official revealed on Wednesday. In the first half of the 2022-23 financial year, the coal giant sold around 30 million tonnes through electronic auctions.

“We are targeting 50 million tonnes in e-auction sales for the year,” Coal India Chairman Pramod Agarwal said on the sidelines of the Global Mining Summit 2022 organized by CII here.

In 2021-2022, Coal India to sell 108 million tonnes through electronic auction.

The miner sold 10.36 million tonnes of coal through electronic auction in the July-September quarter of the current fiscal at an average realization of Rs 6,061 per tonne.

In the three months ending September 30, 2022, the Maharatna PSU sold 141 million tonnes of dry fuel through fuel supply agreements, realizing an average of Rs 1,413 per tonne.

Aggarwal said throughout the event, the company’s focus has been on stability and extraction. He claimed production would not be an issue, but extraction would be difficult.

“The company was investing heavily in first-mile connectivity and mechanized evacuation. Agarwal said most of the evacuation exercises will be mechanized in the next 3-4 years.

He said that the mining industry is important for the development of the country.



Read full article here

Leave a Reply