Who is so desperate for Adani?

Tuesday, 6 December 2016

There is a future mine whose first phase will cost as little as $US4 billion ($5.4 billion), that has so far cost $2 billion and that is running at least two years behind a schedule because of successful environmental lawfare. It is owned by Adani Group, which is a listed Indian company that is about 75 per cent owned by the Adani family.

Carmichael also requires investment in the Abbot Point coal terminal through which the new tonnes of coal will flow to fuel Adani power stations in India. A restructure of Adani Group interests last year left Abbot Point 100 per cent owned by the Adani family.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.