COAL & MINESCOMPANIES IN NEWS

Adani group strikes first coal from its Carmichael mine in Australia

The Adani group struck first coal from its Carmichael, Australia project on Thursday and will start shipping to its customers according to schedule. With this, the project will not only lift the economic prospects of the hitherto barren Australian outback, but also help Indian power plants to source cheap coal.

The project had faced protests from a section of population with several banks even refusing to fund it. The group, however, went ahead with the project which included construction of a brand new railway line connecting an Australian port to the mine — situated 300 kilometers away in Queensland. The group had planned the project in 2010 with an investment of A$16.5 billion but later scaled it down to A$2 billion. The project will produce 10 million tonnes of coal per year. This was one of the biggest investments by an Indian company in Australia.

The CEO of Adani’s Australian company, Bravus Mining and Resources, David Boshoff, said it was an exciting day for over 2,600 people on the project. “Throughout the last two years of construction and during the many years when we fought to secure our approvals, our people have put their hearts and souls into this project – it is wonderful that we have now struck coal,” he said.

“Nearly two years ago today we received our final approvals to develop the Carmichael mine and rail project. We have faced many hurdles along the way, but thanks to the hard work and perseverance of our team, we have now reached the coal seams. Bravus was on track to export first coal as promised, in 2021.”

Source
business standard
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