Bravus Mining & Resources (Adani Australia)
Bravus Mining & Resources (Adani Australia)
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Indian major Adani Mining is facing another delay for its big Carmichael coal-rail-port project in Queensland’s Galilee Basin in Australia, with a court launching a review of the state approval process.
Indian coal and power giant Adani has withstood years of scrutiny and challenge to gain the mining leases for its planned $22B Carmichael thermal coal project in Australia.
The Qld state govt has stood up to concerted opposition by environmental and anti-coal mining activists by approving the mining leases for Indian-owned Adani Mining's $A21.7B Carmichael coal mine and rail project in the Galilee Basin.
Adani has walked a tightrope of protests and legal challenges for several years to win approval to mine the 11Bt JORC-compliant resource and the 388km rail line connecting it to an expanded export terminal at Abbott Point. Australia's largest thermal coal project has a predicted mine life of over 60 years.
The Australian Govt has OK’d the controversial expansion of the Abbot Point Coal Terminal near Bowen in N Queensland.
Federal Environment Minister Greg Hunt has given the go-ahead, subject to strict conditions, making it one of the world's largest coal ports.
After many approvals, backflips and project changes, the Australian govt has approved expansion of the Abbot Point Coal Terminal, making it one of the biggest in the world
An environmental court in Queensland, Australia has rejected a challenge by anti-coal activists to Adani's $A16B Carmichael coal project. Land Court president Carmel MacDonald criticised claims by the applicants that the project would be unviable, saying Indian-backed Adani has the financial capacity for mining operations.
Adani says the decision repudiates politically motivated legal challenges, the Australian Financial Review reports. But delays caused by the activists are damaging the company's need for investor certainty to fund the project.
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Adani's $A16B Carmichael coal project in central Qld is back on track, with the Australian government renewing its environmental permit five months after its previous approval was revoked due to technical slip-ups in the approval process.
Indian-backed Adani proposes to build Australia's largest thermal coal mine based on a JORC resource of over 11Bt in the northern Galilee Basin in central Queensland to be mined by opencut and underground mines and linked by a new 388km rail line to an expanded shipping terminal at Abbot Point near Bowen.
Adani’s $A16B Carmichael coal project in Queensland has lost UK-based Standard Chartered Bank as financial adviser after Australia’s Federal Court set aside its environmental approval.
Commonwealth Bank of Australia also withdrew following last week’s ruling, which directs the minister to reconsider his approval taking into account issues the court said were not adequately addressed in the documentation.
A Standard Chartered spokesman says its withdrawal was by agreement with Adani, London’s Guardian newspaper reported.
Australia’s Federal Court has set aside approval for Indian mining giant Adani Mining's $A16B Carmichael open cut/underground coal mine in central Queensland’s Galilee Basin and 189km rail link approved by the Federal Govt in July 2014.
Adani says decision based on technicality created because some documents were not presented by the Federal Dept of the Environment in finalising the approval.