March 22, 2023 - Due to a slowdown in mining sector, it is likely that coal prices may get revised, Coal India Limited (CIL) chairman Pramod Agarwal said on Monday at 16th Indian Coal Markets Conference in Kolkata.

“There is a strong case for increasing coal prices, as that has not happened in the last five-odd years. This year, the wage negotiation has taken place as well, which will have an impact on CIL’s financial condition, especially for a few subsidiaries where the manpower cost is very high,” Agarwal told a gathering of stakeholders from the coal industry, adding the growth witnessed last year will not be coming soon and even if it does, it will not be sustainable.

Meanwhile, Coal Secretary Amrit Lal Meena said the ministry is in the process of changing a few existing norms for commercial coal block auction to attract more investments.