In­dia’s Adani look­ing for coal mines in SA

The New Age (Free State) - - INSIDE -

IN­DIAN re­sources con­glom­er­ate Adani En­ter­prises is look­ing to buy mines in lo­ca­tions such as In­done­sia and south­ern Africa, a com­pany ex­ec­u­tive said yes­ter­day.

The com­pany al­ready owns a coal mine in In­done­sia, but has been un­able to se­cure fi­nanc­ing for the longde­layed Carmichael mine in Aus­tralia amid nu­mer­ous court chal­lenges from en­vi­ron­men­tal groups con­cerned about cli­mate change and po­ten­tial dam­age to the Great Bar­rier Reef.

“We have a mine in In­done­sia and we are look­ing for more op­tions there,” Rajendra Singh, chief op­er­at­ing of­fi­cer of Adani’s coal trad­ing busi­ness said.

“We’re keeping our eyes open for op­tions in other ar­eas like south­ern Africa coun­tries and Rus­sia. We mainly look at re­serves, pro­duc­tion costs and lo­gis­tics.”

He said there was “op­por­tu­nity in the US” as well given that In­dia im­ports coal from there.

Adani is also In­dia’s big­gest trader of coal with vol­umes of 81 mil­lion tons in the fis­cal year that ended on March 31, sourced mainly from In­done­sia and Africa. In­dia, the world’s sec­ond big­gest coal im­porter after China. – Reuters

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