CIL's coal more expensive than global benchmarks

If you thought the government supplied coal to domestic consumers at a significant discount to global rates, think again. State-owned miner Coal India Ltd (CIL) has been selling 18 per cent of its annual 435-mt output at a price higher than, or at least at par with, global benchmarks. The new trend — following a massive decline in global prices, coupled with a rise in domestic rates — has serious ramifications for crucial coal reforms, including price pooling and auction of reserves.

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