Mounting debt across the Adani Group suggests that the Indian conglomerate’s Carmichael mine proposal for northeast Australia has become an increasingly precarious house of cards, according to new report by the Institute for Energy Economics and Financial Analysis (IEEFA).
Judgement of the Supreme Court of India in the matter of Prayas (Energy Group) Vs Central Electricity Regulatory Commission & Others dated 11/04/2017 regarding Adani Enterprises Consortium seeking a hike in power tariffs due to “unprecedented and unforeseen” escalation in the price of coal imported from Indonesia.
The following report is a summary of mining giant Adani’s track record, based on research into hundreds of court documents by Environmental Justice Australia and Earthjustice and other publicly available evidence. In 2011, a ship carrying Adani coal sank off the coast of Mumbai, devastating beaches, tourism and marine life.
Adani’s Carmichael mine has been “covertly funded” by the World Bank through a private arm that is supposed to back “sustainable development”, according to a US-based human rights organisation.
The Adani Mining Pty Ltd is confident of commencing construction of the Carmichael mine by mid-2017, which will be Australia's largest coal mine, despite growing concerns and protests from environmental and indigenous groups that it will jeopardise the Great Barrier Reef and Aboriginal heritage. There were protests in Melbourne and Townsville, where Adani announced that he will set up the headquarters of the project.
The Australian Conservation Foundation has renewed its legal challenge to Adani’s Carmichael mine, appealing against a federal court ruling that endorsed its approval by the commonwealth.
A traditional owner of the site of Adani’s proposed Carmichael mine has vowed to keep fighting the project as he lodged an appeal from a federal court ruling that endorsed the state government’s ap
SYDNEY, Australia - The Federal Court of Australia has dismissed environmental concerns surrounding Adani Enterprises' $16-billion Carmichael coal mine project and termed it legal.
Order of the Federal Court of Australia in the matter of Australian Conservation Foundation Incorporated Vs Minister for the Environment regarding approval of Adani Carmichael coal mine project dated 29/08/2016. The applicant (Australian Conservation Foundation Incorporated) had opposed the proposed construction of a new open-cut and underground coal mine at Moray Downs in central Queensland and a rail link and associated infrastructure designed to transport coal between the mine and certain coal export terminals.
