The Coal Ministry has empanelled 16 entities as Third-Party Agencies (TPAs) for the collection, preparation, analysis and documentation of coal and lignite samples that will be traded through the Coal Exchange.
In November last year, the Ministry floated a Request for Qualification (RFQ) inviting online applications from eligible agencies. Coal Exchange is an online platform, where buyers and sellers of coal and its processed forms, transact, trade and enter into contracts.
“The empanelment process has been completed. In response to the RFQ, 16 agencies have been found technically qualified and are hereby empaneled as TPAs for collection, preparation, analysis and documentation of samples of Coal and Lignite or its processed form that will be transacted through the Exchange,” the Ministry said.
The estimated timeline for operationalisation of regulated coal exchange is 12 months from the date of receipt of an application, for its registration, on the dedicated online application platform opened on July 15, 2026.
The empanelled TPAs will perform the assigned activities in accordance with the rules, regulations, guidelines and directions issued by the Coal Controller Organization (CCO), in its capacity as the regulator for the Coal Exchange, from time to time.
These norms will also be in accordance with the contract executed between the concerned market participants and the TPA under the framework of the Coal Exchange in accordance with the Coal Exchange rules 2026, it added.
The TPAs will collect coal samples at the designated sampling points and then prepare laboratory samples from the collected raw samples. These samples will then be tested and analysed in NABL-accredited laboratories. The agency will prepare test reports and all associated documentation relating to the sampling and testing process.
“Any other activity as may be provided in the contract executed between the concerned market participant(s) and the TPA in the Coal Exchange, in accordance with the guidelines issued by the Coal Controller Organization from time to time,” the Ministry said detailing responsibilities of the empanelled TPAs.
The TPAs will perform the assigned activities in accordance with the rules, regulations, guidelines and directions issued by the Coal Controller Organization (CCO), in its capacity as the regulator for the Coal Exchange, from time to time.
“The empanelment shall further be subject to the condition that the empanelled TPAs shall establish and maintain laboratories equipped with a Laboratory Information Management System (LIMS), tracking system for providing real-time status updates of samples, mechanized sampling systems, wherever required by the user agency.
They shall upload coal sample results on the designated Web Portal, in accordance with the terms and conditions of the contract executed under the Coal Exchange and with the approval of the Coal Controller.
The period of empanelment shall be five years from the date of operationalisation of the first Coal exchange in India under the Coal Exchange Rules 2026.
During the period of empanelment, the TPAs shall strictly adhere to the provisions relating to conflict of interest as stipulated in the RFQ.
“In the event that the performance of any empaneled TPA is found to be unsatisfactory, or the agency is found to have committed any misconduct, the CCO reserves the right to remove such TPA from the panel, without prejudice to any other action that may be taken under the applicable rules, guidelines or contractual provisions.
The Coal Exchange is being established and operated with the objectives of formulating coal supply contracts, facilitating transactions of such contracts, ensuring fair, transparent, neutral, efficient, robust price discovery and dissemination, securing the efficient and timely supply of coal.
It will operate through an electronic trading system and utilise network communication for its operations.
The platform will operate a Settlement Guarantee Fund (SGF), managed by an independent committee, with at least 50 per cent invested in safe/ liquid instruments fixed deposits with the Scheduled public sector banks, treasury bills and Government securities.
Any entity, including captive and commercial miners, consumers including small and medium consumers in the non-regulated sector can transact, trade and enter into delivery-based contracts on the Coal Exchange(s).
Published on July 30, 2026
