BCCL: For the first time after lockdown steam coal auctioned for Road Mode

Dhanbad, July 31: BCCL auctioned steam coal for the first time in the period of Covid-19 crisis. On Thursday auction BCCL gets the benefit of allowing manual loading of coal. In maximum collieries coal was booked at a higher price than the reserve rate. Most importantly, the Baghmara mines which is known for bidding near floor price has also got a better bid for coal.

The highest bidding was for Bansjora Colliery, where coal was booked at ₹ 5822 per tonne against the base price of ₹ 3582 per tonne, which is 61.78% higher than the floor price.

On 30 July 2020, 27,900 tonne coal and 1,27,400 tonne slurry were auctioned at BCCL. In Nichitpur colliery and kuya colliery coal were booked at 58.62% and 54.50% higher than the floor price respectively. However, the auction of slurry and reject coal were not so successful. There was no buyer for 950 tonnes of coal in Maheshpur colliery and 1500 tonnes of coal in Jogidih colliery.

There was no buyer for Nichitpur outsourcing, so auction not happened for this, whereas it was very difficult to get even a single buyer for Jogidih colliery at floor price. The maximum bidders 103 were for Bansjora colliery, 111 bidders for Kuya colliery and 88 for Nichitpur colliery. Hence it proves that these areas are getting challenged for syndicate rule.