Adani Scales Back Plans for Carmichael Coal Mine, Queensland
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Indian mining giant Adani has scaled back its plans for a massive coal mine in Queensland as it tries to stitch up funding for the project.
The original $16.5 billion Carmichael coal mine planned to export 60 million tonnes of thermal coal each year, but capital costs have now been scaled back to less than $2 billion for the first stage.
Adani now plans to export 10 to 15 million tonnes a year initially, with scope to ramp that up to 27 million tonnes as it tries to convince banks the project should be funded.
Source: Australian Associated Press
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