Coal India Ltd is set to launch its own e-auction platform, and the mining major has informed new and existing bidders to register on the portal, a top company official said. At present, the e-auction portal is managed by mjunction and state-owned MSTC Ltd.<\/p>\n
E-auction sales account for around 120 million tonnes annually for Coal India, while the rest is sold through fuel supply agreements and other special sales windows.<\/p>\n
The miner’s dedicated e-auction portal has been developed by National Informatics Centre and supported by CIL subsidiary Central Mine Planning & Design Institute Ltd.<\/p>\n
“We expect to commence in-house coal e-auction in the next six months. Let the auction happen with volume, and then we will come to know about the cost benefits,” the official told PTI.<\/p>\n
E-auction of Coal India is executed in a 60:40 ratio between mjunction and MSTC.<\/p>\n
“We value Coal India’s decision. We had designed, developed and introduced the e-auction 15 years ago, and are still carrying on with the service without any grievance,” a senior executive of mjunction said on the development.<\/p>\n
The Centre is also planning to introduce a coal exchange after taking into account consumer feedback. It had appointed Crisil as consultant for the proposed exchange, and a report in this regard is expected in the next six-nine months.<\/p>\n
“We want to create a robust platform for private coal mining companies… where buyers and sellers can meet when there is a lot of coal on offer after commercial mines begin production. It will have a regulatory oversight,” Coal Secretary A K Jain had recently said in Kolkata.<\/p>\n","protected":false},"excerpt":{"rendered":"
Coal India Ltd is set to launch its own e-auction platform, and the mining major has informed new and existing bidders to register on the portal, a top company official said. At present, the e-auction portal is managed by mjunction and state-owned MSTC Ltd. E-auction sales account for around 120 million tonnes annually for Coal India, while the rest is sold through fuel supply agreements and other special sales windows. The miner’s dedicated e-auction portal has been developed by National Informatics Centre and supported by CIL subsidiary Central Mine Planning & Design Institute Ltd. “We expect to commence in-house coal […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[131],"tags":[],"class_list":["post-485132","post","type-post","status-publish","format-standard","hentry","category-coal"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/485132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=485132"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/485132\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=485132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=485132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=485132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}