Mahanadi Coalfields Ltd (MCL), the mining arm of CIL operating in Odisha, has raised the coal volume offered in Special Forward E-Auctions, envisaged specifically for the power producers.
The company has offered 4.8 MnT coal for sales in special forward e-auction which is scheduled to be held on 24 Jan’20. The entire volume is floated in 9 different lots pertaining to grades-G12 to G15.
Incidentally, it is the fifth phase of the said auction held during FY20, which is being marked for a long term supply of 3-month period (Jan-Mar’20) against the bid quantity lifted off by the successful buyer.
Coal Offered by MCL in Special Forward Auction
| Phase | Specified Period | Quantity Offered |
| I | Apr-Sep’19 | 2.7 |
| II | Aug-Sep’19 | 0.6 |
| III | Oct-Dec’19 | 1.7 |
| IV | Dec’19-Feb’20 | 3.6 |
| V | Jan-Mar’20 | 4.8 |
Quantity in MnT
The first phase of special forward auction had offered 2.7 MnT coal for a period of 6 months (Apr-Sep’19), however, the quantity was drastically lessened in the subsequent phase. Since then, the company has progressively increased the coal offered in the special forward e-auctions.
In total, MCL has offered a sum of 13.4 MnT coal via special forward e-auction during FY20, which is nearly 68% higher than the quantity proposed under the tentative calendar for the auction at the beginning of fiscal.
Notably, MCL has able to recover from the disruptions witnesses at the beginning of FY20, where various strike activities and accident at Bharatpur coal mine had limited the company’s coal output. At present, the company is in a better position to augment coal availability towards the fiscal end.
During the first 8 months of FY20 (Apr-Nov’19), CIL has allocated 16.95 MnT coal via special forward e-auctions from its various subsidiaries, which have helped in raising the coal supplies for power sector, in addition to the long-term supply made under FSA contracts.
Leave a Reply