MCL’s auctioned 1.83 MnT of coal on 20 Feb’15 and fetched high bids compared to floor price.
Odisha based MCL, one of the subsidiaries of Coal India has scheduled an auction for 1.83 MnT of coal. In this auction, bids went up to INR 500-600/MT higher from the floor prices. Many Power producers participated in the auction as the mix grades also offered thermal coal.
Balram mine offered 160,000 MT of 3,401-3,700 GCV grade coal and received a bid of around INR 1,500/MT against a floor price of INR 950/MT. Another mine i.e. Bharatpur received a final bid of INR 1,600/MT for GCV 3,700-4,000 grade coal against floor price of INR 1,068/MT .
About 300, 000 MT coal from Basundhara & Kulda mines each was offered by MCL, which is the highest quantity offered in the auction. The material was about 100 mm size and with about 4,001-4,300 GCV content.
The MCL has also scheduled an auction for 0.77 MnT Non-coking coal on 26 Feb’15. The company has quoted floor price INR 984/MT & INR 1068/MT for GCV 3,400-3,700 and 3,700-4,000 respectively.
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