State-owned Coal India expects sales of around 50 million tonnes through its online auction platform in the second half of this fiscal year.
The coal miner had sold around 30 million tonnes through the online auction platform in the first half.
“We have already done 30 mt in two quarters. In the third and fourth quarters, another 50 tons should be there. I won’t be able to commit anything, but it will be more than what we have done. EYELASH President Pramod Agrawal told reporters on the sidelines of the Global Mining Summit 2022, hosted by CII.
In the last fiscal year, the volume of electronic auctions amounted to 108 million tonnes.
In the second quarter of this fucal, Coal India had sold 10.36 million tons through electronic auctions and the average realization was Rs 6,061 per ton. The realization of coal sales under the fuel supply agreement was Rs 1413 per ton from sales of 141 million tons.
“Until now, the priority has been to meet the needs of the electricity sector and our production has increased this year. So in the third and fourth quarters, we will see an increase in electronic auction volume,” Agrawal said.
According to him, the coal miner was all about evacuation and sustainability.
Production will not be a problem but evacuation will be a challenge, he said.
“The company was investing heavily in first-mile connectivity and mechanized evacuation…in three or four years most evacuations will be mechanized,” Agrawal said.
“We have aggressively embraced digitization. Having real-time online data can help improve productivity by 20-30%,” he said.