Kolkata: Mining majorCoalIndia Ltd will likely undergo areformin marketing and sales next year, a top government official said on Wednesday. The exercise, among other improvements, will aim at doing away with multiple types of auctions of the dry fuel.
He was speaking at the Bengal Chamber of Commerce- organised virtual mining conclave.
“Coal India produces 80 per cent of coal and still (there exists) all kinds of auction, like spot, exclusive, forward…. We will bring them under one bucket and let there be discovery of prices,” he said.
Jain said smaller such buckets are not serving the purpose, and only enhancing the prices of raw materials for some sectors. He, however, did not talk about fuel supply agreements as part of the proposed reforms.