India’s Coal Supply Glut Forces Top Miner to Explore Exports

Coal India Ltd. has allowed consumers in neighboring countries like Nepal and Bangladesh to participate in its auctions, the miner’s first strategic push for exports as it looks to ease a deepening glut at home.

The decision came into effect Jan. 1, the state-owned firm said in an emailed statement. Its shares extended gains to as much as 7% in Mumbai following the news, the biggest intraday rise since June 2024.