Coal India is aiming to sell 50 million tons through the e-auction route in the second half of the current fiscal year, a senior company official said on Wednesday.
The coal giant sold around 30 million tons via e-auction in the first six months of the 2022/23 financial year.
“We are targeting another 50 million tons of e-auction sales for the year,” Coal India Chairman Pramod Agrawal said on the sidelines of the Global Mining Summit 2022, organized by CII here.
Coal India e-auction sales totaled 108 million tons in 2021-22.
In the July-September quarter of the current fiscal year, the miner had sold 10.36 million tons of coal via e-auction and the average proceeds stood at 6,061 rupees per ton.
Maharatna PSU sold 141 million tonnes of dry fuel under the fuel supply contract for the three months ended 30th September 2022 with an average realization of Rs. 1,413 per tonne.
During the program, Agrawal said the Kolkata-headquartered company focused on evacuation and sustainability.
Production won’t be a problem, but evacuation will be a challenge, he said.
“The company has invested heavily in first mile connectivity and mechanized evacuation. In the next 3-4 years, most evacuation drills will be mechanized,” Agrawal said.
He also stated that the mining sector is crucial for the country’s growth.
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