Bravus Mining & Resources (Adani Australia)
Bravus Mining & Resources (Adani Australia)
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START THE WEEK: WHAT YOU NEED TO KNOW
The anti-coal zealots who are leading the relentless campaign against Indian-based Adani Coal's $US16.5B Carmichael thermal mine development in the Galilee Basin of central Queensland are widening their ambitions to nothing less than the total destruction of the mining sector across much of the Australian state.
Indian coal giant Adani has blamed a political veto on planned Australian govt funding for its decision to terminate over $A2B in contracts with Downer EDI at its $US16.5B Carmichael thermal coal mine, rail and infrastructure project in Queensland's Galilee Basin.
Adani said it would switch to owner-mining at Carmichael after premier Annastacia Palaszczuk announced her state govt would veto a proposed $1B loan towards project development costs.
Stressing its commitment to developing Carmichael, Ardani said the move to owner-operation would help control operational costs.
Several big protests have been held across Australia against Indian mining giant Adani's proposed $US16.5B Carmichael Coal Mine in Queensland, the country’s biggest coal project, which has been delayed for years over environmental and financing issues, Reuters reports.
Rallies have been held in Sydney, Brisbane, Melbourne, the Gold Coast and Port Douglas in N Queensland where thousands of protesters took to streets as part of a national day of action.
Adani Mining says anti-coal mining activists are continuing attempts to delay a project that will bring major benefits to local communities after courts rejected challenges by the Australian Conservation Foundation and a private citizen against its $US16.5B Carmichael coal mine in Qld.
CEO Jeyakumar Janakaraj says the courts have rejected three appeals in the last week against Australia's largest coal project.
Glencore has again signalled it is in no particular rush to give the go-ahead for development of a multi-billion dollar thermal coal export project in Australia's Surat Basin despite the long-awaited award of its mining licences
Adani Enterprises stands up to the strident campaign of anti-mining activists to give the final investment go-ahead for Australia's biggest coal mine.
Indian mining giant Adani has stood up to a virulent campaign of vilification and misinformation by Australian anti-coal mining activists, with billionaire chairman Gautami Adani announcing a final investment decision for the $US16.5B Carmichael coal mine in Qld's Galilee Basin.
"We have been challenged by activists in the courts, in inner-city streets and even outside banks that have not even been approached to finance the project," Adani said in a statement. "We are still facing activists, but we are committed to this project."
The campaign against Adani's Carmichael coal development by Australia's increasingly cranky anti-coal brigade has suffered another setback, with the Qld state govt agreeing the Indian-based miner may defer royalty payments until its fifth year of operations.
Premier Annastacia Palaszczuk says, under a new policy applying to all future developments in the Galilee and Surat Basins and NW Minerals province, there'll be no discounts on royalties and Adani will have to pay interest on the deferred amounts.
Queensland premier Annastacia Palaszczuk may have achieved the breakthrough needed to assure development of Australia's largest thermal coal project by leading a delegation of regional leaders to India to meet Adani Group, proponent of the $21.7B Carmichael development.
India's Adani Group is looking to a June decision on a go-ahead for the $A21.7B Carmichael thermal coal mine and railway project in Australia after gaining renewed assurances of support from Queensland premier Annastacia Palaszczuk and regional leaders at the weekend.
After Palaszczuk led a delegation including eight local mayors to India to study Adani projects, chairman Gautam told the Townsville Bulletin the project is on track to start early work in Aug. First coal from an initial 25Mtpa operation is expected to be shipped to India by 2020.