Australia finally clears Adani to mine one of the world’s largest coal reserves

The most divisive mining project in recent Australian history can finally break ground after the state of Queensland cleared the final regulatory hurdle on Thursday for Adani Group’s Carmichael coal mine. The approval of the project’s groundwater management marks the end of an almost 10-year wait, during which the proposed mine faced steady resistance by environmental groups. Local […]

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Adani’s coal project in Australia may take off as new govt comes to power

A surprise election victory for Australia’s pro-coal ruling Coalition is ratcheting up pressure on the Queensland state government to approve development in one of the biggest untapped reserves of the fossil fuel. Adani Group’s Carmichael coal project is located in Australia’s huge Galilee Basin, which if fully developed, has the potential to more than double […]

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Australia’s election bodes ill for Adani coal mine project; analysts claim boom has ended

A crash in Australian thermal coal prices is raising fresh questions about the viability of a controversial $4 billion coal mine just a week ahead of a national election in which climate change is a key issue. Final approval of the Carmichael coal mine in Queensland, owned by India’s Adani Enterprises, should come in “a […]

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India’s Adani sees six-fold rise in coal mining volume despite challenges in Australia – report

Despite the group’s struggle to develop the long-drawn coal project in Australia, India’s Adani Group expects an over six-fold rise in coal mining volumes by the end of fiscal year 2021, a Reuters report quoted an Adani executive as saying. The Gujarat-based mining and marketing conglomerate is looking to buy mines in countries such as […]

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India’s coal imports rise by 15 per cent in the first three months of 2018

India’s thermal coal imports have risen by more than 15 per cent in the first three months of 2018, reports Reuters. Imports from Indonesia account for about three-fifths of total supplies, according to vessel arrival data from Dubai-based coal trader American Fuels & Natural Resources. Further, India’s rising coal imports are contributing to higher demand […]

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Adani Group’s Carmichael project takes another hit, as it ends partnership with Downer Group

The Adani Group’s Carmichael coal and rail project in Australia has decided to cancel its partnership with experienced local mine operator Downer Group in a $2.6 billion contract. After the Queensland Government vetoed a $1 billion loan to the Adani Group, the cancellation of partnership with the Downer Group is being attributed to cost-cutting measures. […]

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Adani Group’s debt-funded investment in Australian coal terminal at risk – report

Adani Group’s Abbot Point Coal Terminal (AAPCT) in Australia is excessively leveraged, promises negative shareholders equity, and runs the risk of becoming a stranded asset if the group’s proposed Carmichael mine does not get the A$1 billion subsidy it seeks, a report by a U.S.-based institute said. The report by the Institute for Energy Economics […]

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Daily Masala

Here is what others are talking about this morning: Yen, bonds and gold gain after North Korea tests ‘hydrogen bomb’ Gold hits 10-month high in wake of N.Korea nuclear test Oil markets volatile in wake of Hurricane Harvey Metals prices are saying a global recovery is afoot Hindalco earmarks $3 billion for overseas acquisitions New […]

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