Adani to fully fund its troubled Australia coal project
6 years, 1 month ago

Adani to fully fund its troubled Australia coal project

Live Mint  

Ahmedabad: Beset by protests over environmental concerns and legal and regulatory hurdles, energy giant Adani Group on Thursday said it will self-finance a scaled-down version of the Carmichael mine in the coal-rich Galilee Basin of Australia. Adani Mining’s Carmichael mine and rail project will be entirely financed through the billionaire Gautam Adani-led Adani Group’s resources, Adani Mining CEO Lucas Dow said in Central Queensland. “Our work in recent months has culminated in Adani Group’s approval of the revised project plan that de-risks the initial stage of the Carmichael mine and rail project by adopting a narrow gauge rail solution combined with a reduced ramp up volume for the mine,” said Dow in a media statement issued by the Adani group. “We will now begin developing a smaller open cut mine comparable to many other Queensland coal mines and will ramp up production over time to 27.5mtpa,” Dow said in the statement. In December last year, the Queensland government vetoed Adani Group’s application for a $1 billion commonwealth loan to build a railway line for the massive mine.

Australia Coal Company Project Group Rail Adani Queensland Dow Carmichael Fully Fund  project  australia  carmichael  adani  rail  queensland  group  groups  fully  fund  coal  company  troubled  initial

History of this topic

Adani Group announces to invest Rs 7.5 lakh crore in Rajasthan across sectors
1 month, 1 week ago

Adani Group announces to invest Rs 7.5 lakh crore in Rajasthan across sectors

India TV News  

Rising Rajasthan Global Summit: The Adani Group is planning to invest Rs 7.5 lakh crore across various sectors in Rajasthan, said Karan Adani, Managing Director of Adani Ports and SEZ Ltd on Monday at the Rising Rajasthan Global Summit held on Monday at the Jaipur Exhibition and Convention Centre in Sitapura. While speaking at the Rising Rajasthan Summit, Karan Adani …

Adani Group accused of racial discrimination at Australian coal mining unit
1 month, 3 weeks ago

Adani Group accused of racial discrimination at Australian coal mining unit

India Today  

Adani Group, whose billionaire chairman has been indicted for fraud by US prosecutors, is facing accusations of racism at its Australian coal unit after an Aboriginal group filed a complaint with the country's Human Rights Commission. The Nagana Yarrbayn Wangan & Jagalingou Cultural Custodians in Queensland state said it filed a complaint alleging serious racial discrimination by the unit, Bravus …

Shares in India’s Adani Group plunge 20% after US bribery, fraud indictments
1 month, 3 weeks ago

Shares in India’s Adani Group plunge 20% after US bribery, fraud indictments

Associated Press  

NEW DELHI — One of Asia’s richest men, Indian tycoon Gautam Adani, is again in the spotlight. India’s main opposition also demanded a parliamentary committee probe into Adani Group dealings, which Jairam Ramesh, a leader of the Congress Party, said are causing “growing monopolization in key sectors of the Indian economy, fueling inflation, and posing huge foreign policy challenges as …

Adani Infra to buy 30% stake in construction firm PSP Projects for ₹6.85 billion
1 month, 3 weeks ago

Adani Infra to buy 30% stake in construction firm PSP Projects for ₹6.85 billion

Live Mint  

Adani Infrastructure will acquire a 30.07 per cent stake in Gujarat-based construction firm PSP Projects for ₹6.85 billion. The Adani Infra deal values PSP Projects at ₹575 per share, which is a 15 per cent discount from its closing price on Tuesday. Additionally, Adani Infra will provide an “open offer” to purchase more stakes in PSP Projects as, according to …

Adani Group to invest $10 billion in US energy and infrastructure projects
2 months ago

Adani Group to invest $10 billion in US energy and infrastructure projects

Live Mint  

Adani Group founder and chairman Gautam Adani said in a social media post on platform X on Wednesday, November 13, that the company will invest $10 billion in energy and infrastructure projects in the United States. The Adani Group Chair announced the company's aims to expand the partnership between India and the United States by leveraging its global expertise and …

Adani Energy Solutions may launch $600 million share sale this week: Report
5 months, 2 weeks ago

Adani Energy Solutions may launch $600 million share sale this week: Report

Hindustan Times  

Gautam Adani-led Adani Energy Solutions is likely to launch a share sale this week to raise over $600 million, as per news agency Reuters. The Hindenburg report accused Adani Group of improper use of offshore tax havens and stock manipulation. Adani Energy Solutions plans to raise funds through a Qualified Institutional Placement, the report claimed. Since Hindenburg report in January …

Adani Enterprises gets board nod to raise Rs 16,600 crore via QIP
7 months, 2 weeks ago

Adani Enterprises gets board nod to raise Rs 16,600 crore via QIP

Business Standard  

The board of Adani Enterprises, the flagship firm of the conglomerate, on Tuesday approved raising Rs 16,600 crore by way of qualified institutional placement of shares or any other instruments, it told stock exchanges in a statement. The approval came a day after its transmission tower firm, Adani Energy Solutions, cleared plans to raise Rs 12,500 crore by way of …

India's Adani Energy Solutions to raise up to $1.5 billion
7 months, 2 weeks ago

India's Adani Energy Solutions to raise up to $1.5 billion

The Hindu  

India's Adani Energy Solutions said on Monday that its board has approved a fundraise of up to ₹125 billion. Business news website Moneycontrol had earlier reported that the two Adani companies — Adani Energy and Adani Enterprises — will collectively approve a fundraising plan in a range of $3.5-4 billion. Last year, U.S. shortseller Hindenburg in a report accused the …

Adani group shares fall after media report on alleged over-pricing of coal imports
1 year, 3 months ago

Adani group shares fall after media report on alleged over-pricing of coal imports

The Hindu  

Shares of Adani Group companies on Friday, October 13, 2023, came under selling pressure and closed with losses with flagship Adani Enterprises Ltd tanking over 2% to ₹2,454.65 per share a day after Financial Times reported that the Gautam Adani led group was allegedly over-invoicing imported coal prices to enrich it and to make electricity consumers in India pay higher …

Total may lead Adani plan to raise $1.5 bn for green power
1 year, 3 months ago

Total may lead Adani plan to raise $1.5 bn for green power

Live Mint  

Adani Green Energy Ltd, which is planning to raise $1.5 billion, may secure a big chunk of it from French energy giant TotalEnergies SE, two people aware of the matter said. TotalEnergies on Wednesday invested $300 million to create an equal joint venture, named Adani Green Energy Twenty Three Ltd. “Of the remaining $1.2 billion too, a major investment will …

Adani group plans to raise $800 million for green energy projects
1 year, 8 months ago

Adani group plans to raise $800 million for green energy projects

Live Mint  

Adani Group is mulling to raise nearly USD 800 million for new green energy projects, news agency Bloomberg reported Thursday, citing people familiar with the matter. This could be Adani Group's biggest borrowing since short-seller Hindenburg Research report sparked a share rout in January, the report added. The group's seven listed stocks, including Adani Green Energy Ltd, lost roughly $114 …

Adani Group in talks to raise $800 million to finance new projects: Report
1 year, 8 months ago

Adani Group in talks to raise $800 million to finance new projects: Report

Hindustan Times  

Adani Group is aiming to raise about $800 million for new green energy projects, people familiar with the matter said, in what could be the conglomerate’s biggest borrowing since it was slammed by a short seller in January. Billionaire Gautam Adani-led group is in discussions with global banks including Sumitomo Mitsui Banking Corp., DBS Bank Ltd., Mitsubishi UFJ Financial Group. …

Who is Gautam Adani and why is he controversial?
1 year, 11 months ago

Who is Gautam Adani and why is he controversial?

Al Jazeera  

The Indian entrepreneur has seen his wealth plummet after a research firm accused him of ‘brazen stock manipulation’. The firm has alleged that the Adani Group has engaged in a “brazen stock manipulation and accounting fraud scheme over the course of decades”. The Adani Group uses a web of firms in tax havens to inflate revenue and stock prices and …

Indian billionaire Adani at center of $68B stock market rout
1 year, 11 months ago

Indian billionaire Adani at center of $68B stock market rout

Associated Press  

NEW DELHI — Asia’s richest man, Gautam Adani, saw his companies shed $68 billion in market value after short-selling firm Hindenburg Research accused him of “pulling the largest con in corporate history,” triggering a massive sell-off of Adani stocks. It has expanded to Australia and Indonesia and, according to Adani Power’s website, is on track to be “one of the …

Kidnapped for ransom, 26/11 survivor Gautam Adani faces his biggest challenge yet
1 year, 11 months ago

Kidnapped for ransom, 26/11 survivor Gautam Adani faces his biggest challenge yet

Deccan Chronicle  

New Delhi: He was kidnapped by bandits in 1998 for ransom and when terrorists attacked Mumbai almost 11 years later, he was among the hostages held at the seafront Taj Hotel. Adani Enterprises Ltd's FPO found investors for just 1 per cent of the shares on offer on the opening day on Friday when the company's share price fell below …

Indian coal magnate Gautam Adani steps up green investments
2 years, 1 month ago

Indian coal magnate Gautam Adani steps up green investments

Associated Press  

NEW DELHI — Asia’s richest man, Gautam Adani, made his vast fortune betting on coal as an energy hungry India grew swiftly after liberalizing its economy in the 1990s. The college drop out from a middle-class family fits the government’s need for “national champions,” both to meet domestic goals and as private sector partners in strategic projects outside India, said …

Indian coal magnate Gautam Adani goes green
2 years, 1 month ago

Indian coal magnate Gautam Adani goes green

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Asia’s richest man, Gautam Adani, …

Adani announces ₹65,000-cr. investment in Rajasthan
2 years, 3 months ago

Adani announces ₹65,000-cr. investment in Rajasthan

The Hindu  

Richest Asian Gautam Adani on Friday announced a ₹65,000-crore investment in Rajasthan over the next 5 to 7 years in setting up a mega 10,000 MW solar power capacity, expanding cement plant and upgrading Jaipur airport. The investment by ports-to-energy conglomerate that Adani heads also spans city gas infrastructure for retailing CNG to automobiles and piped gas to households and …

Gautam Adani | From a trader to the world’s third-richest
2 years, 4 months ago

Gautam Adani | From a trader to the world’s third-richest

The Hindu  

Industrialist Gautam Adani, who founded the ports-to-green energy Adani Group, last week broke into the top three in the Bloomberg Billionaires Index, trailing only Tesla founder Elon Musk and Amazon boss Jeff Bezos. With the group’s own trading business frequently impacted by delays in cargo clearance at other ports in the country, Mr. Adani decided this was the opportune moment …

Adani Group Plans to Invest $70 Billion to Turn India to Clean Energy Exporter; Know Details
2 years, 5 months ago

Adani Group Plans to Invest $70 Billion to Turn India to Clean Energy Exporter; Know Details

News 18  

The Adani Group’s plan to invest $70 billon in green energy will play a major role in India’s transition to green energy, the conglomerate’s chairperson Gautam Adani said on Tuesday, July 26. Addressing the annual general meeting of Adani Enterprises, Gautam Adani said the success of the Adani Group is aligned with India’s growth. The Adani Group’s hold in the …

Adani, Total team up in $5bn green hydrogen project
2 years, 7 months ago

Adani, Total team up in $5bn green hydrogen project

Al Jazeera  

Green hydrogen projects will help India slash its reliance on oil and coal and help it curb emissions. French giant TotalEnergies SE and Indian billionaire Gautam Adani’s conglomerate plan to invest $5 billion to produce green hydrogen and related products in India as the world’s third-largest polluter seeks to decarbonize. Green hydrogen projects will also help India — the world’s …

Adani – now Bravus – strikes first coal seam at Carmichael mine in Galilee Basin
3 years, 6 months ago

Adani – now Bravus – strikes first coal seam at Carmichael mine in Galilee Basin

ABC  

Bravus – formerly known as Adani – says it has struck coal for the first time at the Carmichael mine in Queensland's Galilee Basin. Key points: Bravus can begin mining after striking a coal seam at the Carmichael Mine, but its rail line to Abbot point remains incomplete Environmentalists say "holding up a few lumps of coal" is a meaningless …

Adding coal to the fire
3 years, 9 months ago

Adding coal to the fire

The Hindu  

If India loses the fight against climate change, new investments in coal will be a decisive factor. Yet, one of the world’s largest new coal investments is Adani’s $16.5 billion dollar Carmichael coal mine project in Queensland. The Carmichael mine is set to become Australia’s largest coal mine, producing up to 60 million tonnes of coal annually and 2.3 billion …

Greta Thunberg urges Siemens to review Adani’s Australia coal project
5 years ago

Greta Thunberg urges Siemens to review Adani’s Australia coal project

Live Mint  

Climate activist Greta Thunberg has called on German engineering group Siemens AG to review its role in helping to develop a coal mine project in Australia. Engineering giant Siemens has said it will decide by Monday on its involvement in the development of the mine which is being built by India's Adani Power, its CEO Joe Kaeser said on Friday. …

Adani mining insider reveals she is leaking material to environmental activists
5 years, 4 months ago

Adani mining insider reveals she is leaking material to environmental activists

ABC  

A worker at a company bidding for an Adani contract has told the ABC she is leaking inside information to environmental activists so they can target her employer. Sue*, a long-time mining services industry worker who has asked to remain anonymous, said she was willing to risk her career for "the opportunity to provide information that could help to stop …

Adani beware: coal is on the road to becoming completely uninsurable
5 years, 5 months ago

Adani beware: coal is on the road to becoming completely uninsurable

ABC  

The announcement by Suncorp that it will no longer insure new thermal coal projects, along with a similar announcement by QBE Insurance a few months earlier, brings Australia into line with Europe where most major insurers have broken with coal. Even so, a sufficiently hard-headed company might choose to work both sides of the street — continuing to do business …

Adani's mine has the green light but questions remain about its viability
5 years, 7 months ago

Adani's mine has the green light but questions remain about its viability

ABC  

The most divisive project in recent Australian history can finally break ground. Waiving a key requirement they'd repeatedly held up as Adani's final barrier — that it "definitively" identify the source aquifers of the Doongmabulla springs complex before approval — state environmental officials signed off on the Indian miner's Groundwater Dependent Ecosystem Management Plan. Adani's working assumption that the springs …

Adani receives green signal for long-delayed Australian coal mine; firm says ready to start construction on getting permit
5 years, 7 months ago

Adani receives green signal for long-delayed Australian coal mine; firm says ready to start construction on getting permit

Firstpost  

Adani last year scaled back its initial plans for a 60 million tonne per year mine and has said that it will self-fund the project, backed by ready buyers in its own Indian power plants and its trading business. Melbourne: India’s Adani Enterprises on Thursday received the go-ahead to start construction of a controversial coal mine in outback Australia after …

Adani wins final approval to begin work on coal mine project in Australia
5 years, 7 months ago

Adani wins final approval to begin work on coal mine project in Australia

India TV News  

Indian energy giant Adani on Thursday cleared the last regulatory hurdle to commence the work on its controversial carmichael coal mine project in Australia with the Queensland state authorities approving its groundwater management plan. The final and last approval for the Adani Group's long-delayed billion dollar mega coal mine project came weeks after a surprise election win of Australia's pro-coal …

India’s Adani wins approval for long delayed Australian coal mine
5 years, 7 months ago

India’s Adani wins approval for long delayed Australian coal mine

Al Jazeera  

The project’s supporters say it will boost the economy, but environmental groups say it will damage marine ecosystems. India’s Adani Enterprises on Thursday received the go-ahead to start construction of a controversial coal mine in Australia‘s outback after a state government approved a final permit on groundwater management. The go-ahead comes after Queensland’s Department of Environment and Science said it …

Mega mine next to Adani quietly put on hold, thousands of promised jobs in doubt
5 years, 7 months ago

Mega mine next to Adani quietly put on hold, thousands of promised jobs in doubt

ABC  

A $6.7 billion Chinese mega mine coal project adjacent to the Adani venture in Queensland's Galilee Basin is in doubt after the company abandoned its bid for a mining lease. Key points: China Stone, a mega mine planned next to the Adani venture, terminates its mining lease applications with the Queensland Government The company would not explain why but says …

Adani coal mine must go ahead in wake of Coalition election win, Rockhampton mayor says
5 years, 7 months ago

Adani coal mine must go ahead in wake of Coalition election win, Rockhampton mayor says

ABC  

Adani must get a "fair go" and be allowed to open up the Galilee Basin for "jobs to flow" in the central Queensland region, Rockhampton Mayor Margaret Strelow says. The Mackay Conservation Group says pro-mining groups are using the election result to boost their campaigns Queensland's Environment Department is still waiting for Adani to prove it can satisfy key requirements …

What we know about Adani's Carmichael coal mine project
5 years, 8 months ago

What we know about Adani's Carmichael coal mine project

ABC  

On the day of the final environmental nod from the Queensland Government on the Carmichael mine project, Adani Australia chief Lucas Dow declared construction activity would "steadily increase" in the weeks to come. The Premier's move to ask her Coordinator-General to oversee the DES approval process for Adani came days after many commentators pointed to the Labor Party's equivocal position …

Adani wins groundwater management clearance for Aussie coal mine
5 years, 9 months ago

Adani wins groundwater management clearance for Aussie coal mine

Deccan Chronicle  

Melbourne: Adani Enterprises has taken a step closer to the construction of a controversial thermal coal mine in Australia after winning federal government approval for its groundwater management plan. Adani wants to develop the Carmichael coal deposit in Queensland state, but has faced fierce environmental resistance that has turned the project into a political hot potato ahead of a federal …

Adani Australia coal mine plans face further delay
6 years ago

Adani Australia coal mine plans face further delay

Live Mint  

Sydney: Gautam Adani’s long quest to build a coal mine in the Australian outback faces another setback, with the Queensland state government refusing to sign off on the company’s plans before further studies into the project’s environmental impact are complete. “Two plans are yet to be approved before any significant disturbance can commence at the Carmichael coal mine,” Queensland’s department …

Adani says a scaled-down version of its Carmichael coal mine will go ahead; environmentalists express scepticism
6 years, 1 month ago

Adani says a scaled-down version of its Carmichael coal mine will go ahead; environmentalists express scepticism

ABC  

Indian energy giant Adani has announced its Carmichael mine and rail project in central Queensland will go ahead — and will be 100 per cent self-financed. Key points: Adani says in statement it has finance and is "ready to start" The announcement comes after environmental groups pressured banks not to lend money to the project Mining lobby group welcomes news, …

Adani groundwater bores investigated amid claims they were sunk without approval
6 years, 4 months ago

Adani groundwater bores investigated amid claims they were sunk without approval

ABC  

The Queensland environment department has launched an investigation into a series of groundwater bores drilled by Indian miner Adani, which conservationists say were sunk without approval. Key points: Adani told the ABC it was abiding by the conditions of the Carmichael project's approvals Conservationists have repeatedly warned that the company's dewatering plans would see groundwater levels plummet The Queensland Environmental …

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