Adani signs deals to sell 2/3rd of production from Oz mine

Adani Mining has signed contracts with buyers for selling nearly two-thirds of the coal it plans to produce from Carmichael mine in Australia.
"We have signed contracts for nearly two thirds of our coal production from Carmichael mine in Australia," Adani Group spokesperson told PTI.
Conglomerate Adani Enterprises had said in March that it is in advanced talks with power firms and traders in different countries for selling coal from Carmichael mine.
Adani Mining Pty, a wholly-owned subsidiary of Adani Enterprises, is in discussion with various power utilities and coal traders in different countries for offtake arrangements of the fuel from Carmichael mine, it had said in a filing to the BSE.

The company also said that it has signed certain letters of intent with these power utilities and coal traders as part of discussions to sell the fuel.
As per some media reports, countries like China and Korea have evinced interest for buying coal from Carmichael mines.

The Carmichael coal, railway and port project includes building Australia's largest thermal coal mine in the north Galilee Basin in Central Queensland, linked by a new 388 kms standard gauge rail line to a new terminal at Abbot Point Port.
The combined mine, rail and port operations will provide over 10,000 direct and indirect jobs and supply opportunities for local businesses, as per information available on the company's website.

Adani Group is implementing coal mining projects with total annual coal production capacity of around 110 MTPA (million tonnes per annum).
The company plans to achieve a mining capacity of 200 MTPA of coal by 2020.
Shares of Adani Enterprises closed at Rs 779.30 a piece on the BSE, down 0.10 per cent from the previous close.