Economics
Australia Lures $21 Billion Bet on Coal Rebound: Energy Markets
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Coal’s worst slump in seven years has failed to deter GVK Group and Adani Enterprises Ltd. from pressing ahead with a $21 billion bet on Australia’s Galilee Basin as other companies shelve projects amid rising costs.
GVK, controlled by India’s GV Krishna Reddy, plans to have financing as early as this year for its Alpha mine in Queensland’s Galilee region and is scheduled to begin exports by