Adani signs deals to sell 70% of production from Oz mine
Melbourne: Adani Mining has signed contracts with buyers for selling nearly 70 percent of coal it plans to produce from its USD 16.5 billion Carmichael mine in Australia.
Adani Australia CEO Jeyakumar Janakraj said up to 70 percent of the production of coal was taken up by the customers and approval of the onshore dredging disposal option was anticipated well within the second half of this year.
“A final investment decision for the Australian projects will be made at this time,” he said further.
The potential Queensland coal mining major is now awaiting two main key issues which were loans clearance and? the dredging approval.
The company has claimed that its port, rail and mine projects in Queensland, from Abbot Point, to North Galilee Basin Rail (NGBR) connecting it?to the mine at Carmichael will deliver 10,000 direct and indirect jobs and 22 billion Australian dollars in taxes and royalties over the half-life of these projects.
It also has highlighted its commitment to nation building in India by helping deliver energy security.
Earlier last month, Queensland Premier Annastacia Palaszczuk had said: “We have always said any development needs to be environmentally responsible and that it has to stack up commercially on its own two feet.
“This is an encouraging sign, but there are still a number of regulatory checks and balances that must be met and processes that must be completed before the project gains full approval.”
Adani Group is implementing coal mining projects with total annual coal production capacity of around 110 MTPA (million tonnes per annum).
The company plans to achieve a mining capacity of 200 MTPA of coal by 2020.