Coal India devises strategy to stave off impact due to mine grade revision
Coal India may consider revising coal prices this year in case sales volume doesn't pick up to compensate for the revenue loss arising out of grade revision of its 177 mines.A senior company official said while the company had suffered poor sales in the last fiscal year as sales volume grew only 1.6 per cent cent at 543.16 million tonne (mt) against the targeted 8.8 per on account of lower than estimated power demand, the situation is gradually improving now and Coal India is likely to meet its offtake targets in the coming months."We expect sales volume to pick up in the coming months which will make up for the revenue revision arising out of grade adjustment of the mines. In case volume doesn't pick up, then we may consider revising the coal prices to make up for revenue", the official told Business Standard.However, the current demand condition, as per the official, will not call for an immediate hike in coal prices.Recently, the Coal Controller Organization had inspected 871...04-05-2017
