Business tycoon Gautam Adani-led Adani Group is all set to start coal exports from their Carmichael mine in Australia’s Galilee Basin. It is the first coal mine in Queensland’s Galilee Basin with huge untapped coal reserves. Adani Group bought this mine in 2011 for $2 Billion.
“The first shipment of high-quality coal from the Carmichael mine is being assembled at the North Queensland export terminal in Bowen ready for export as planned,” a statement from the Adani Group’s subsidiary Bravus Mining & Resources said.
“We have already secured the market for the 10 million tonne per annum of coal that will be produced at the Carmichael Mine,” the statement further added.
It is important to note that coal will be exported from the terminal at Abbot Point. As coal accounts for 70% of India’s power generation, many analysts presume that it will help fill the gaps in the coal requirements of India.
Australian coal has the lowest sulfur content amongst all coals of the world so is ” cleaner”. But it is still a fossil fuel and so not good.. Long term,, India must go away from coal, but India should set its own time table and not be oressurized by western nations.