Billionaire Adani Sees Disputed Australia Mine Start by 2020
- Final approval for the delayed mine expected as early as May
- Adani to cut coal mining capacity for first phase by 38%
Billionaire Gautam S. Adani.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
India’s Adani Group plans to begin extracting coal from the $16.5 billion Carmichael project in Australia in 2020 after environmental protests delayed the first phase of the mine.
The company will begin work on the project three months after it gets final approval from Australia’s federal government, Gautam Adani, billionaire chairman of the Indian group said on Friday. Adani expects permission from Malcolm Turnbull’s government for the project in Queensland’s Galilee Basin as early as May, with a final investment decision by May or June, he said.