Coal exchange likely to start later this year, move aimed at setting up a mature coal trading market
New Delhi: The government proposes to start a coal exchange later this year to trade coal mined from private commercial mines along with Coal India NSE 3.60 %’s spot auctions. A senior government official said the move is aimed at setting up a mature coal trading market by the time the commercial coal mines become operational.
“In about 5-7 years, 40% of the coal is expected to be produced by companies other than Coal India (CIL NSE -3.82 %). It is our duty to offer a transparent platform for discovery of prices and selection of buyers. Later, power sector can also migrate to it,” the official said on condition of anonymity.
The coal ministry has issued tenders seeking consultancy service in setting up the coal exchange.
