R/€ = 15.73 Change: -0.10
R/$ = 13.84 Change: -0.12
Au 1281.42 $/oz Change: -12.44
Pt 794.99 $/oz Change: -8.87


Foreign investors eye stake in IOC’s LNG terminal to be commissioned this month

By: Ajoy K Das     14th January 2019 Indian Oil Corporation (IOC), the country’s largest oil refiner-marketer, will be willing to offer strategic equity stake to overseas investors in its liquefied natural gas (LNG) terminal ready for commissioning at the end of this month. IOC in a statement said that construction of the LNG... 

India's thermal coal imports rise over 15% in Q1 – trader

By: Reuters     11th May 2018 India's thermal coal imports rose by more than 15 percent in the first three months of 2018, with Indonesia accounting for about three-fifths of total supplies, according to vessel arrival data from Dubai-based coal trader American Fuels & Natural Resources. India's rising coal imports are... 

War on coal is making the world's top mine owners a lot richer

By: Bloomberg     2nd May 2018 The world’s war on coal is making its biggest producers a lot richer, at least for now. With governments from Asia to Europe setting stricter pollution limits as the climate change debate intensifies, output of the planet’s dirtiest fuel is dropping. Some of the more significant declines are... 

NLC India appoints Adani subsidiary as MDO for Odisha coal blocks

By: Ajoy K Das     27th March 2018 NLC India (formerly Neyveli Lignite Corporation) has signed up Adani Enterprises’ subsidiary Talabira Odisha Mining Private as the mine-developer operator (MDO) for the Talabira II and Talabira III coal blocks in Odisha. In a regulatory filing, Adani Enterprises said that it had “signed a coal... 

Adani may sell stake in Carmichael coal mine amid funding delay

By: Bloomberg     22nd February 2018 The battle to build one of the world’s biggest coal mines has suffered a fresh setback after Adani Enterprises conceded it would fail to meet a March deadline to arrange A$3-billion in financing for the project. The December decision by the Queensland government to veto Adani’s A$900-million... 

Blow for Galilee basin coal projects as Aurizon withdraws NAIF application for rail line

By: Mariaan Webb     9th February 2018 Australia’s largest rail freight company Aurizon has withdrawn its application for funding from the Northern Australia Infrastructure Facility (NAIF) to assist with a multi-user, open access rail solution for the development of the coal-rich Galilee basin. Aurizon CEO Andrew Harding said on... 

Australian official confirms no federal financing for Adani mine

By: Reuters     5th February 2018 There will be no Australian federal financing of a loan facility for Indian conglomerate Adani Enterprises to build a rail line to its proposed Carmichael coal project, a government frontbencher confirmed on Sunday. Assistant minister for vocational education Karen Andrews told Sky News Speers... 

India's growing economy holds promise for coal exporters

By: Kim Cloete     1st February 2018 India’s growing economy is hungry for coal, with a huge demand for imported coal, delegates attending the IHS Markit South African Coal Export Conference, in Cape Town, have heard. Adani Enterprises COO for Coal Trading Rajendra Singh said the Indian government was investing heavily in... 

Adani Australia port must refinance soon or face rating cut

By: Bloomberg     9th January 2018 An Australian deep water port linked to one of the world’s biggest planned coal mines should lock in refinancing within six months of a loan maturing in November to safeguard credit ratings on its debt, according to S&P Global Ratings. Adani Abbot Point Terminal in Australia’s Queensland state,... 

Biggest Australian business lender to stop new coal mine funding

By: Bloomberg     14th December 2017 National Australia Bank (NAB) pledged to stop funding new thermal coal mine developments and boost lending to renewable energy projects as part of global efforts to tackle climate change. “While we will continue to support our existing customers across the mining and energy sectors, including... 

Billionaire's mine financing hurdles fuel bondholder jitters

By: Bloomberg     7th December 2017 The Indian conglomerate Adani Enterprises is learning how one financing problem can lead to headaches for debt investors elsewhere as it tries to secure money for one of the world’s biggest coal mines. Three of China’s largest banks this week ruled out any involvement in financing the mine in... 

Australia notified China of Adani coal mine approvals in letter

By: Reuters     26th October 2017 Australian politicians told China of government approvals for a controversial A$16.5-billion coal mine project being built by Indian conglomerate Adani Enterprises, a panel of senators heard on Thursday. Thousands of people turned out across Australia this month to protest against the project in... 

Adani must pay royalties on Carmichael mine, Queensland says

By: Reuters     26th May 2017 India’s Adani Group will be required to pay full royalties on its $16.5-billion Carmichael coal project in Australia’s Queensland, according to the state’s premier. The Carmichael mine “will pay every cent of royalties in full” under a new policy unanimously agreed to by the state’s cabinet for... 

Adani's $16.5bn Aussie mine rattled by tax deal delay

By: Bloomberg     25th May 2017 India’s Adani Group could walk away from its $16.5-billion Carmichael coal project in Australia unless a royalties deal can be reached with the state government, according to federal Resources Minister Matthew Canavan. The Queensland government’s failure to agree the terms of the royalty regime... 

Reservations expressed about India’s proposed rules for commercial coal mining auctions

By: Ajoy K Das     21st April 2017 As the government readies to open commercial coal mining to private miners for the first time since 1973, prospective private investors have raised reservations about the terms and conditions laid down by the Coal Ministry. According to minutes of a meeting between the Coal Ministry and... 

Adani coal mine in Australia faces fresh wave of protests

By: Bloomberg     22nd March 2017 A new environmental campaign to stop the development of Adani Group’s $16.5-billion coal mine in Queensland will be launched Wednesday with the high-profile backing of former Australian Greens party leader Bob Brown. “Adani and the federal government have no idea of the scale of opposition and... 

India scours globe for bargain LNG as domestic plants idle

By: Bloomberg     28th October 2016 India is scouting for new liquefied natural gas (LNG) contracts globally as part of a push to secure cheap supplies for its under-utilised gas-fired power plants. Australia, Qatar and Iran could all act as potential suppliers of long-term LNG contracts, Power Minister Piyush Goyal said in... 


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