Coal news and updates

Coal India raises high grade non-coking coal prices by 8%

India's largest coal supplier Coal India Ltd has raised prices of non-coking coal of grade G2 to G10 by 8% over the existing notified prices with effect from May 31, five years after the last hike.

These high grade coals are used mainly by the cement, fertiliser, and sponge iron sectors and the development will increase their input costs. It is unlikely to affect the thermal power sector that mainly uses coal of G11-13 grade to generate electricity.

For instance, the country's largest power producer NTPC Ltd uses G11-13 grade for more than 90% of its power generation, said an official who did not wish to be named.

Coal of grade G8-G9 can be used for blending in some plants when required, he added.

The price revision will help Coal India earn incremental revenue of approximately ₹2,703 crore in FY24, the state-run company said in an exchange filing on Tuesday.

The increase in coal prices was pending for a long time for multiple reasons.

"The company has absorbed inflationary costs for over the past five years