Coal India targets 50 MT sales via e-auction in H2 of FY23

KOLKATA: Coal India is targeting 50 million tonne sales through the e-auction route in the second half of the current fiscal, a top company official said on Wednesday.

The coal behemoth had sold around 30 million tonne via e-auction in the first six months of the 2022-23 financial year.

“We are targeting another 50 million tonne in e-auction sales for the year,” Coal India chairman Pramod Agrawal said on the sidelines of Global Mining Summit 2022, organised by CII here.

Coal India’s e-auction sales were at 108 million tonne in 2021-22.

In the July-September quarter of the current fiscal, the miner had sold 10.36 million tonne of coal via e-auction, and the average realisation was Rs 6,061 per tonne.

The Maharatna PSU sold 141 million tonne of the dry fuel through the fuel supply agreement in the three months that ended on September 30, 2022 with an average realisation of Rs 1,413 per tonne.

During the programme, Agrawal said the Kolkata-headquartered company has been focused on evacuation and sustainability.

Production will not be a problem but evacuation will be a challenge, he said.

“The company was investing heavily in the first-mile connectivity and mechanised evacuation. In the next 3-4 years, most of the evacuation exercise will be mechanised, Agrawal said. He also said the mining sector is critical to the country’s growth.