A revision of a new price mechanism will nullify a projected 12.5% rise in coal prices, Coal India Chairman N.C. Jha said on Tuesday, allaying fears of input cost rise for user industries such as power, cement and steel makers.
The state-run miner's new pricing mechanism will be reviewed after Jan-Mar quarterly results, India's coal minister Sriprakash Jaiswal said.
Any new mechanism after March would be revenue-neutral for Coal India, which aims to produce 464 million tonnes of coal in 2012-13.
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