Bharat Coking Coal Ltd (BCCL), the mining arm of CIL regarded as the largest coking coal producer in the country, has offered 779,500 MT coal for sale in the special forward e-auction. It would be the third phase of the said e-auction which is earmarked specifically for the power producers.
The current scheme of auction would offer coal for a lifting period of two months (Dec’19-Jan’20), with bidders permitted to declare the monthly coal allotment as per their convenience.
Erstwhile, coal offered in the first and second phase of BCCL’s special forward e-auction were noted at 1,212,500 MT and 430,000 MT respectively, thus accumulating a total of 2.422 MnT coal put forward across the three phases.
Eventually, BCCL had surpassed the coal volume of 2.1 MnT that was to be offered for FY20, as depicted in the tentative schedule for special forward e-auction.
Summary of Coal Offered in the third phase of Special Forward Auction:
Of the total quantity 557,500 MT coal has been offered via sales through road mode of auction. While, remaining volume was offered in rakes for Rail mode.
BCCL had put forward 582,000 MT of coking coal up for sales in the auction pertaining to grades W-IV and W-V, whose reserve price was set 10% higher than the notified price as accorded for the power customers.
Incidentally, reserve price of W-IV grade of coal was marked at INR 2860/MT against the notified price of INR 2600/MT, whereas price of W-V grade was marked INR 2670/MT against the notified price of INR 2427/MT.
For sales of 157,000 MT non-coking coal comprising of G-5, G-13 and G-14 grades, the reserve price was set 15% higher than the notified coal price.
In addition, BCCL had also put for sale 40,500 MT of washed coal, supplied from its Sudamdih and Patherdih washeries at a reserve price of INR 3905/MT.
Despite offering higher coal volumes for sale in the special forward coal e-auction than the earlier prescribed tentative schedule for FY20, coal volumes remained way-off the level that was put forward in FY19.
Apparently, the offer quantity in FY19 was recorded at 8.656 MnT for sales in special forward e-auction against which 6.404 MnT coal was booked in the period.
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