Foreign companies likely to skip commercial coal block auctions

KOLKATA: Commercial coal block auctions are likely to receive a lukewarm response from foreign players as big companies are losing interest in a sector which has been widely seen as polluting and avoided by top banks and financial investors, experts said.

The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector.

Mining major Rio Tinto sold off its last coal assets in Queensland, Australia in 2018, while BHP recently said it would exit coal if presented with opportunities. The company operates mines in Australia and Colombia.

Anglo American, a large British mining company, has decided to reduce coal production over the next two years.