State-owned Coal India (CIL) has increased the price of a certain grade of coal from one of its mines in Godda district of Jharkhand.
The increase comes into effect on April 1 as per the decision taken by the Coal India board, sources said.
"The CIL board in its 306th meeting held on March 20 has approved fixation of add-on price in respect of coal produced from Rajmahal mine of Eastern Coalfields Ltd at R390 per tonne in place of the existing R300 per tonne. This is in order to rationalise the price of coal produced from Rajmahal mine of Eastern Coalfields due to reclassification of Grade of Rajmahal mine of Eastern Coalfields and price adjustment," said an official.
Coal India had in December last year hiked prices of non-coking coal from Western Coalfields by 10%.
"...Last time, during rationalisation in the end of February 2011, there was a substantial cut. In the process, it had some impact. So, now we have increased it by 10% on WCL (Western Coalfields)," Coal India CMD S Narsing Rao had said earlier.