Coal news and updates

Lignite auction by NLC receives good response

March 28: The first auction by Neyveli Lignite Company Ltd (NLC) on coaljunction platform to sell 50,000 tons of lignite attracted a good response from consumers, particularly cement-makers based in south India, according to information available with ICMW.

More than 70% of the offered quantity of 50,000 tons of lignite from NLC's mine 1 and 1A were booked in the auction held on March 21.

The second auction for a similar quantity is being held today (March 28), but the response is likely to be poor.

Industry sources said the material offered by NLC met with low response on March 28 in the initial period because most of the users or consumers have already stocked up in the auctions held in February.

NLC had announced sales of 200,000 tons of lignite through the coaljunction platform through three separate auctions on March 21, March 28 and April 11.

While the first two auctions were for 50,000 tons each, the final auction on April 11 will have a total offering of 100,000 tons of lignite.