Coal India sees a 3x surge in October e-auction volumes at 17 mn tonnes

The company said the spike is due to increased demand from the power sector and several unstructured coal buyers

State-owned miner Coal India (CIL) witnessed a record 190 per cent increase in the volume of coal booked through its e-auction in October, on the back of increased demand from the power sector and several unstructured coal buyers.

It booked 16.8 million tonnes (mt) of coal in October, compared to 5.8 mt in the corresponding month last year. 

During the first seven months of the current financial year (FY21), the firm booked 59 mt of coal in e-auctions, a growth of 90 per cent over the corresponding period last year.

In July, CIL launched a special category of e-auction for companies and traders