The government-run Coal India anticipates selling about 50 million tonnes through its online marketplace this fiscal year. During the first half, the coal miner had sold about 30 million tonnes via the e-auction site. “We have already completed 30 metres in two quarters. Another 50 mt ought to be there in the third and fourth quarters. It will be more than what we have done, but I won’t be able to commit to anything,” CIL Chairman Pramod Agrawal told reporters outside the CII-organized Global Mining Summit 2022.
E-auction volume in the previous fiscal year was 108 million tonnes. Coal India sold 10.36 million tonne through e-auction in the second quarter of this fiscal, with an average realisation of Rs 6,061 per tonne. Sales of 141 million tonnes of coal resulted in a profit of Rs 1413 per tonne under the Fuel Supply Agreement.
“Up until now, meeting the demands of the power sector has been our top focus, and this year, our output has increased. So, the volume of e-auction sales would increase in the third and fourth quarters, according to Agrawal.He claimed that the coal miner was concerned with sustainability and evacuation. Production won’t be an issue, but evacuation will be difficult, he claimed.
The majority of evacuation will be mechanized in three to four years, according to Agrawal, who added that the company was spending extensively in first mile connection and mechanized evacuation. “We have embraced digitization quickly. Online real-time data can boost productivity by 20–30%, according to him.