BCCL's Record-Breaking Coking Coal Auction Boosts Steel Sector

The government announced that 2.40 million tonnes of coking coal were successfully booked out of 3.36 million tonnes offered by Bharat Coking Coal Ltd (BCCL), setting a record in the recent long-term linkage e-auction for the steel sector. The reforms in the auction process, including consortium bidding, aimed to reduce the import burden and increase accessibility for smaller consumers.

The government on Thursday declared that 2.40 million tonnes of coking coal were successfully booked from the 3.36 million tonnes offered by Bharat Coking Coal Ltd (BCCL) in its latest auction for long-term linkages in the steel sector.

Coal ministry officials hailed the record-breaking e-auction, which marked a significant milestone for the sector. BCCL CMD Samiran Dutta highlighted the inclusive and transparent reforms undertaken, such as consortium bidding, which allowed smaller consumers to join forces and participate in the auctions.

These reforms aim to reduce the import burden on the country's foreign reserves and make the auction process more attractive and accessible. BCCL's proposal to amend eligibility norms for bidders has also been approved for further consideration.

(With inputs from agencies.)