The government on Thursday said the coal sector is facing a bit of headwind from the financial markets and that could be one of the reasons for global players not participating in commercial coal mine auctions.

This comes after Coal Minister Pralhad Joshi earlier exuded confidence that in the next round of auctions, there would be participation from global players.

The process for the second round of auctions for commercial mining — in which 67 blocks are up for sale — is underway.

‘We had couple of participation with industries in the US and also Indonesia and some other places. We reached out to many people….maybe because the coal is facing little bit of headwinds from the financial markets for investment and so that could be one of the reasons (for global players not participating in the auction),’ Additional Coal Secretary M Nagaraju said.

He was replying to a query during the first stakeholders’ consultation on the second…

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