Coal news and updates

CIL e-auction offering on coaljunction up sharply in Dec

January 6: The total offered and allotted quantities of coal through the spot e-auction route by Coal India Ltd (CIL) on the coaljunction platform shot up in December as compared to November, according to data available with ICMW.

CIL’s subsidiaries offered a total of 3.93 million tons (mt) of various grades for sale through coaljunction in December, up almost 69.47% from 2.319 mt offered in November whereas in October, the offered quantity stood much lower at 0.848 mt.

The allotted quantity also increased in December to 3.14 mt from 2.205 mt in November while the quantity stood lower at 0.718 mt in October.

As per the government directive, CIL was to reduce the sale of coal through the e-auction platform to 25 mt annually as compared to around 58 mt sold in 2013-14.