- G12 premiums exceed 260% at select mines
- Winning bids rise across mine-grade combinations
Mahanadi Coalfields Ltd. (MCL) allocated 1.683 mnt in its e-auction held on 5 October 2026 against 1.861 mnt offered, with bidding remaining strong across several mine-grade combinations. G12 attracted the highest winning prices, led by Jagannath and Kaniha, while G13 and G14 also recorded substantial premiums. The auction showed stronger bidding across several sources compared with the 19 September auction.
G12 sees strongest bidding
G12 recorded particularly strong premiums across major sources. Jagannath G12 recorded the highest winning price at INR 4,609/t, resulting in a 318.6% premium over the notified INR 1,101/t. Kaniha G12 followed at INR 4,582/t, with a 316.2% premium, while Bharatpur and Bhubaneswari recorded premiums of 267.0% and 264.8%, respectively.
Ananta G12 also recorded firm bidding at INR 3,059/t, equivalent to a 177.8% premium.
G13 and G14 also attract high premiums
G13 bidding remained strong, particularly at Kulda, where the winning price reached INR 3,214/t, representing a 216.4% premium. Lingaraj G12 also attracted a high premium of 243.3%, while Lajkura G13 recorded a more moderate 97.3% premium.
Among G14 sources, Garjanbahal recorded a winning price of INR 3,132/t, carrying a 236.8% premium. Samleswari and LBL Int recorded premiums of 143.5% and 171.9%, respectively. Hingula G14 attracted a 99.9% premium.
Siarmal G9 also saw strong bidding, with a winning price of INR 5,320/t against INR 1,506/t notified, translating into a 253.2% premium.
Comparison with 19 September auction
The 5 October auction showed a clear strengthening in winning prices across all comparable mine-grade combinations available from the 19 September result. Jagannath G12 and Samleswari G14 recorded particularly sharp increases, while Ananta and Bhubaneswari G12 also moved higher.
The comparison indicated that bidding had strengthened substantially across recurring mine-grade combinations. The sharpest increase was recorded at Samleswari G14, followed by LBL Int and Hingula, while G12 sources also saw meaningful gains.
Buyer participation
Rungta Mines was the largest buyer, securing 190,000 t of G12. Feegrade and Company followed with 174,300 t across G14, G13, G9 and G12. Jindal Steel & Power purchased 125,000 t of G12, while GMR Kamalanga Energy secured 91,300 t of G12. Sanish Ventures purchased 70,000 t, including G14 and G13, while Bharat Benefication and Power secured 67,000 t of G14.
Overall, the 5 October auction reflected strong and broad-based bidding across selected MCL sources, with several G12 and G14 combinations recording substantially higher winning prices than on 19 September. The rise across comparable mine-grade combinations indicated stronger competition for preferred coal sources.
Leave a Reply