Coal India Limited (CIL) has initiated the process for acquiring overseas coking coal mines in order to meet domestic demand. For this purpose, the company has floated a global tender for appointing merchant bankers for the identification and execution of asset deals. CIL has stated that the entire demand for coking coal and high-grade, low-ash thermal coal cannot be met through indigenous sources, owing to the limited availability of recoverable coking coal reserves and a near absence of high-grade, low-ash thermal coal reserves within the country. In a separate development, CIL will hold long-term special forward e-auction for power producers with a flexible lifting period of up to three years.