Sci-tech

Adani hopes to start Australian coal mine project by August

Adani hopes to start Australian coal mine project by August

THE LATEST campaign by activists seeking to derail Adani's proposed Queensland Carmichael Coal Project has again missed the point by using the signatories of dozens of successful, well-paid Australian identities to argue against a project that would significantly benefit the less fortunate.

Cricket legends Ian and Greg Chappell and few other prominent Australians have written to Adani Group Chairman Gautam Adani urging him to abandon the Dollars 21 billion mine project, a plea the company rejected as "motivated" by a very small group "misled" people.

Calls and emails requesting comment from Queensland officials on the delegation and letter of opposition being delivered to Adani were not answered.

The Adani board is expected to approve the project next month, with construction then likely to begin in August this year.

Adani, who is valued at $6.2 billion according to the Bloomberg Billionaires Index, said the group is eligible to tap the government's Northern Australia Infrastructure Fund for half of the project's debt requirement.

Palaszczuk too sounded positive about securing the pending federal approvals soon as her country's national parliament is in session now and is keen to begin a debate on the project.

"Most of the approvals have gone through", Annastacia Palaszczuk, premier of Queensland said in Mumbai on Friday, with Adani present during the briefing.

He said they are going to tie-up with commercial banks for most of the loans and only leftover or the maximum 50 per cent of this facility will be drawn upon.

The company has almost halved the first phase of the mining project to 25 mt per annum from the original plan of 40 mt, he said. Production will eventually be expanded to the planned 40 million tonnes, he added. "The Great Barrier Reef is already at risk from coral bleaching, and ships taking coal is just not the right thing to do", he said, adding that a medical journal Lancet has also said that the project poses "serious risk to public health".

The Adani group issued a media statement, calling it a "motivated exercise".

The company also said the project will provide "much needed job opportunities" and generate around $22 billion in state mining taxes and royalties in the first half of the 60-year project life.

"Australians do not want this coal mine and will continue to fight it tooth and nail".

"I've got such a situation in regional Queensland where people are hurting, families are hurting, because they don't have employment with the downturn in the resources sector", she said.


  • Senator Menendez Rebuffed by Top Court on Corruption Charges

    Supreme Court on Monday declined to throw out the federal indictment against U.S. Menendez is accused of soliciting and accepting gifts from his friend, Dr.

    Eli Lilly and Co (NYSE:LLY) & CIT Group Inc

    The recent trading ended with the price almost 0.37 higher for the last 5 trading days, rebounding 31.98% from its 52-week low. The Company's human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.

    UFC London: Manuwa Knocks Out Anderson In Round One

    The finish came 46 seconds into the frame, as Nelson rocked Jouban with a right hand and then a kick to the top of the head. Nelson improved to 7-2 in the UFC with six of those wins coming by submission. "My style just works this way", Nelson said.
  • Florida State beats Missouri to reach Sweet 16

    The Musketeers move on in the West region, marking the third straight year they have advanced to the second round. Inconsistency has been a problem all season for Florida State, and that was the case again tonight.

    Pitney Bowes Inc. (PBI)

    Canada Pension Plan Investment Board boosted its position in shares of Pitney Bowes by 23.8% in the third quarter. The company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.57 by $0.04.

    What Are Analysts Report About Genworth Financial, Incorporated (GNW)

    The consensus recommendation by Thomson Reuters analysts is Hold and their mean rating for the stock is 2.52 on scale of 1-5. EPS indicator shows the robustness of the stock and its analysis opens up the clear picture of company's profitability.
  • Game Freak Recruitment Has People Hoping for "Pokémon" on Switch

    In an interview with Toyokeizai Online , Ishihara said it wouldn't be as simple as porting their games to the console. According to Game Freak, "It's a title that just about anyone knows, a proposal that could be your future career".

    Amazon CEO Bezos Is Biggest Gainer, Cracks Top 3 — Forbes' Billionaires List

    O'Brien saw his fortune fall by $1 billion from March 2016, while Desmond's fortune rose by €100 million, as did Naughton's. But Mr Bezos' $27.6bn increase on last year's figure marked the largest increase of anyone on the list.

    McEwen Mining Inc. (NYSE:MUX)

    In the liquidity ratio analysis; quick ratio for most recent quarter was 2.50 while current ratio for time period was 3.80. The average true range of the stock is observed at 0.26 and the relative strength index of the stock is recorded at 41.31.
  • Federation Internationale de Football Association bans Ghanaian referee for life over match manipulation

    The ban results from a penalty he awarded to South Africa in a 2-1 win over Senegal in a 2018 World Cup qualifier in November. Senegal is third, with only the group victor advancing to play in Russian Federation .

    Kendall Jenner's home reportedly robbed of $200G in jewelry

    Law enforcement speculates that Kendall's robbery was an inside job since she had a party with friends on Wednesday night. Authorities, who called the investigation "ongoing", did not confirm the value of the stolen property, E! said .

    Will India brew beer on its spacecraft?

    Union minister Jitendra Singh responded to the question with a nay - presumably to the dismay of readers reading this. Of these 25 teams, the report said, one is planning to conduct the experiment for manufacturing beer on the moon.