India has raised its coal sales limit for small and medium firms to 10,000 tonnes a year in a bid to reduce a glut, Bloomberg News reported Sept. 28, citing the coal ministry.
This compares to 4,200 tonnes a year set nearly nine years ago.
S.N. Prasad, marketing director at state-run miner Coal India Ltd., said the new policy also allows any entity to purchase up to the maximum amount, which expands the number of prospective buyers.
Coal India, meanwhile, is looking to sell a further 20 million tonnes of the material in spot auctions during the fiscal year, according to the report.