Coal news and updates

CIL hikes coaljunction e-auction offering in Oct

November 4: The total offered and allotted quantities of coal through the spot e-auction route by Coal India Ltd (CIL) on the coaljunction platform rose in October as compared to September, according to data available with ICMW.

CIL’s subsidiaries offered a total of 0.848 million tons (mt) of various grades for sale through coaljunction in October, up 55.59% from 0.545 mt offered in September.

The allotted quantity also increased in October to 0.718 mt from 0.491 mt in September.

Incidentally, the offered and allotted quantities by CIL via spot e-auction have been falling consistently from July this year following the government directive in June to reduce the quantity of sale through this route.

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.