Synopsis
Presently, Coal India sells 20-25% of its coal through several exclusive auctions to power consumers, non-power consumers and coal importers. The proposal to allow Coal India hold single e-auction would require change in present policy and an approval from the Union Cabinet.
Agencies
The government has auctioned 19 coal blocks in the first tranche of commercial coal auctions. Another 75 mines with reserves of over 38,000 million tonnes are proposed to be offered in the current tranche of the auctions.
The government proposes to allow
Coal India Ltd to export surplus coal for the first time since its inception while clubbing all spot auctions held by the state-owned miner for various consumers for trading on one exchange.