Coal India E-Auction: 36% Premium in May

Kolkata, Jun 1 (PTI) State-owned Coal India Ltd allocated 84.20 lakh tonnes of coal through its Single Window Mode Agnostic (SWMA) e-auction platform in May, against an offer of 257.42 lakh tonnes, achieving an allocation rate of 33 per cent, the company said in an exchange filing on Monday.

The coal sold through e-auction fetched an average premium of 36 per cent over the notified price during the month, it said.

The premium, however, eased compared to the 45 per cent achieved in the consolidated April-May period.


Among subsidiaries, Northern Coalfields Ltd (NCL) achieved 100 per cent allocation through e-auction in May. Western Coalfields Ltd (WCL) recorded a 54 per cent allocation rate, while South Eastern Coalfields Ltd (SECL) logged 76 per cent.

During April-May, CIL offered 562.93 lakh tonnes of coal through the e-auction route and allocated 201.94 lakh tonnes, translating into an allocation rate of 36 per cent, it said.

Earlier in the day, the mining major reported an 11.6 per cent on-year fall in coal production in May, with output slipping to 56.1 million tones.