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India’s BCCL tweaks rules for auction of coking coal permitting consortium-based bidding by steel mills

Thursday, 26 September 2024 11:40:11 (GMT+3)   |   Kolkata
       

India’s Bharat Coking Coal Limited (BCCL), the wholly-owned operational subsidiary of state-run Coal India Limited (CIL), has tweaked its process of auctioning coking coal to steel producers ensuring greater flexibility and transparency, according to a government statement.

The new auction rules introduce the concept of consortium-based bidding, which allows smaller consumers to collaborate and participate collectively in the auction, broadening the pool of bidders and making the process more accessible, the statement said.


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