Adani in talks with buyers to sell coal from Australian mines
The company also said that it has signed certain letters of intent with coal traders
New Delhi: Conglomerate Adani Enterprises is in advanced talks with power firms and traders in different countries for selling coal from its mines in Australia. Adani Mining Pty, a wholly-owned subsidiary of Adani Enterprises, is in discussion with various power utilities and coal traders in different countries for offtake arrangements of the fuel from its Carmichael coal project in Australia, it said in a filing with the BSE.
The company also said that it has signed certain letters of intent with these power utilities and coal traders as part of discussions to sell the fuel. As per some media reports, countries like China and Korea have evinced interest for buying coal from Adani's Carmichael mines in Australia.
The Carmichael coal, railway and port project includes building Australia's largest thermal coal mine in the north Galilee Basin in Central Queensland, linked by a new 388 kms standard gauge rail line to a new terminal at Abbot Point Port.
The combined mine, rail and port operations will provide over 10,000 direct and indirect jobs and supply opportunities for local businesses, as per information available on the company's website. Adani Group is implementing coal mining projects with total annual coal production capacity of around 110 MTPA (million tonnes per annum). The company plans to achieve a mining capacity of 200 MTPA of coal by 2020. Adani Enterprises shares were trading 3.14 per cent down at Rs 677.70 apiece during afternoon session on the BSE.