Adani Carmichael project likely to commence operations by Aug

Adani Group's much-awaited USD 16.5 billion Carmichael project will start operations this year as the firm expects clearances for the mining lease to come by August.
The Carmichael coal, railway and port project includes building Australia's largest thermal coal mine in the north Galilee Basin around 160 km northwest of Clermont in Central Queensland, linked by a new 388 km standard gauge rail line to a new terminal at Abbot Point Port near Bowen.
"All the clearances have come through. There are only two issues related to land, etc. We expect this to happen soon. All decks will be a go in the next 5-6 months. We will then start operations. Both the central and state governments in Australia are very positive about the project," a top Adani Group executive said on conditions of anonymity.

The group led by Gautam Adani plans to build one of the world's largest coal mines in Australia along with a railway line and a port to ship coal to India.
Last week Australia's Resources and Energy Minister Josh Frydenberg had said: "All the commonwealth approvals have been granted. There are some state approvals, which are awaiting conclusion. The state government and the federal government as well as the federal opposition, all support the Carmichael project."
When asked about the status of the project Australia' Trade and Investment Minister Andrew Robb told PTI: "The Adani case is an issue of the Queensland (provincial) government and they have just recently approved all the environmental issues and have endorsed what we have done.

"There is now only the mining lease to go. I think there is another action being taken by the environmental groups in the court, but I cannot comment on that. But, I would expect we are not faraway, but this is a matter for the Queensland government. They seem to be enthusiastic."

Earlier this month, Queensland state's department of environment and heritage protection (EHP) gave the environmental approval to the controversy-hit Carmichael project of the ports-to-power conglomerate.
When asked about the discussions on Adani's project, Power and Coal Minister Goyal last week said: "Both sides had dialogue on their commercial projects that are facing issues." Both governments have decided to work in trying and finding solutions on these issues, he added.

It said that various supporting units are being built with
various partners and few are in advanced stage of construction.
Warehouse for supporting these manufacturing cluster is almost ready for receiving the produces from various units and the main plant construction is also nearing completion and getting ready to receive the equipment, it said.
On Overseas Mining, it said the business in Indonesia is doing well. The company has extracted 3.11 MT of coal in 9MFY17. During Q3, the Indonesia mine faced abnormal rains due to seasonal effect. While recovery in production is expected in Q4, there may be some shortfall in target 5.5 MT.

The Adani Group is one of India's leading business houses with revenue of over USD 12 billion.
Adani is developing and operating mines in India, Indonesia and Australia as well as importing and trading coal from many other countries. Currently, it the largest coal importer in India.
It has extensive interests in oil and gas exploration and its coal extraction has increased to 11 MT in 2016 and it aims to achieve coal trading and mining volume of 200 MT per annum by 2020, thereby emerging as one of the largest mining groups in the world.
The shares of the company closed at Rs 90.80 apiece on the BSE, down 0.93 per cent from the previous close.