The government proposes to allow Coal India Ltd to export surplus coal for the first time since its inception while clubbing all spot auctions held by the state-owned miner for various consumers for trading on one exchange.
The state-run miner is likely to set up a special e-auction window for export of coal which cannot be sold in India. The coal ministry has also proposed a single auction trading platform for all coal consumers of Coal India, sources in know of the development said.
A senior government official said coal prices to power and non-power Coal India consumers who hold long term linkages will remain unchanged.
Presently, Coal India sells 20-25% of its coal through several exclusive auctions to power consumers, non-power consumers and coal importers. The proposal to allow Coal India hold single e-auction would require change in present policy and an approval from the Union Cabinet, they said.
“After meeting requirement of linkages of power and non-power consumers, Coal India should be allowed to sell coal on a transparent basis.