Maiden Auction of NCL M-Sand gets great Response
Northern Coalfields Limited (NCL), a Miniratna coal producing company, has achieved a breakthrough in business diversification and environmental initiatives with a resounding success in its first NCL M-Sand M-Sand auction. On all of the 20000 Cubic Meter M-Sand that went under the hammer on Friday, the Singrauli-based coal company received a 62% premium over the notified price.
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Bidders from all over the country responded enthusiastically to the E-auction process. NCL uses a simple, transparent, and user-friendly e-auction process for sales and marketing of its M-Sand through MSTC Limited. NCL intends to hold such an e-auction for the sale of M-Sand every month.
NCL M-Sand
The NCL’s Amlohri Project Overburden to Sand initiative emphasizes the promotion of sustainable practices under the guidance of the Ministry of Coal for maximum utilization of natural resources while minimizing the negative effects of mining. As part of its ‘Waste to Wealth’ mission, the company has established a Sand manufacturing plant that uses its Overburden (OB) as raw material while maintaining ecological balance.
The company’s eco-friendly initiative will help to prevent river bed erosion and protect aquatic ecosystems.
The innovative action plan is a success for the company, government, and local stakeholders. The ‘M-Sand’ generated was e-auctioned at a low base price and of comparable quality to the market’s currently available river sand.
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