Adani Prepared To Ship Coal From Australia’s Most Controversial Mine

The Adani Group is planning to ship its first-ever coal cargo from the most controversial mine in Australia, after fighting against a seven-year-long campaign spearheaded by climate activists and disregarding the groups’ fight for fossil fuels.

Queensland’s Carmichael mine is in all probability the last new thermal coal mine in Australia, the world’s biggest coal exporter, however, a crucial supply source for power plants in countries like India.

The statement, however, did not mention where the shipment headed, except that the company has managed to secure the market for the coal worth 10 million tones an annum that is due for production at Carmichael Mine.

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In 2010, when Adani purchased the project, it envisaged setting up a 60-million-tonne-a-year mine with a 250-mile rail line for about $11 billion. This assignment is one of the projects envisioned at the Galilee Basin.

In 2018, Adani shrank the plan to 10 million tonnes each year after a “Stop Adani” campaign led by the green groups scared off insurers, lenders, and engineering companies.

The firm has not revealed the cost of the smaller mine and a 200-km railway line Adani built tying into an already existing railway, but the project estimate is likely to be $1.5 billion.

Adani Prepared To Ship Coal From Australia’s Most Controversial Mine appeared first on Marine Insight – The Maritime Industry Guide

Source: Maritime Shipping News