Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / News/  Adani Australia coal mine plans face further delay
BackBack

Adani Australia coal mine plans face further delay

Queensland has refused to sign off on Adani Group's Carmichael coal mine project before further studies into its environmental impact are complete

Adani Group chairman Gautam Adani. The Adani Group said last month it would self-finance the Carmichael coal mine project in Queensland. Photo: ReutersPremium
Adani Group chairman Gautam Adani. The Adani Group said last month it would self-finance the Carmichael coal mine project in Queensland. Photo: Reuters

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 of environment and science said in a media release on Friday.

The Adani Group said last month it would self-finance the controversial mine, which analysts see as a potential bridge-head for more projects to follow in the remote Galilee Basin. The region has the potential to more than double Australia’s thermal coal exports, but its development is fiercely opposed by environmental groups.

Queensland is waiting on scientific reviews of Adani’s plans to protect the endangered black-throated finch and to manage groundwater levels at the nearby Doongmabulla Springs. A government spokesman would not comment on the likely timeframe for the studies.

Adani Mining CEO Lucas Dow said the state government was standing in the way of the mine’s development by changing the rules at the eleventh hour. “Signing off our remaining plans should be a standard process, which the government has completed for scores of other mines and the coal seam gas industry," Dow said in a statement.

Adani can start work on building the rail line to connect Carmichael to Queensland’s freight network, but cannot start building the mine until the management plans are finalized.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 21 Dec 2018, 02:25 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie