Adani’s Australian mining arm strikes Carmichael project coal
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Bravus Mining and Resources, the Australian mining arm of the Adani Group brand, hit the carbon in the Carmichael mine in Queensland, Australia, the company and the Chairman of Gautam Adani said on June 24.
“Bravus has now struck the coal and exposed the first coal seams in our Carmichael project,” said the company.
“Proud of my tenacious team that has extracted Carmichael’s” first coal “in the face of high chances. There could be a better birthday gift than to strengthen our nation’s energy security and provide affordable power to millions of Dollars. Thank you, Queensland and Australia, “said Gautam Adani in a tweet.
In a statement, CEO of Bravus David Boshoff said that Bravus was on the right track to export the first coal as promised, in 2021.
“We are on the right track to export the first coal this year,” Boshoff said, adding that India would be a basic customer for the Carmichael mine and that the market had already been secured for 10 million tonnes by a coal produced at the carmichael mine. .
“Coal will be sold to index pricing and we will not involve transfer pricing practices, which means all our taxes and royalties will be paid here in Australia. India gets the energy they need and Australia receives economic jobs and benefits in the process, “said Boshoff.
As on June 24 morning, ADANI companies increased by 3.65 rupees to RS 1508.05 per share. Those of Adani power decreased by nearly 5% to 120.50 rupees per share.
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