Coal India on Tuesday said it has posted a 65 per cent rise in the sale of fuel through the electronic auction route in the first six months of this fiscal. The public sector miner has booked 41.4 million tonnes (mt) of raw coal through e-auction between April and September 2020 against 25.1 mt a year ago.
“Even with the pandemic slowdown, Coal India could net a 10 per cent average premium over the notified value in the first six months compared with 48 per cent in the previous year. But the aim was to increase volume,” a Coal India official said.
To mitigate the liquidity crunch of coal consumers amid Covid-19 pandemic, the miner also brought down the reserve price to lift more coal during the lockdown phase.
