Adani first purchased the Abbot Point Coal Terminal from the government of Queensland under a 99-year lease, but control of operations was maintained by Glencore via its ownership of the operator.
Since then, that ownership has been at the center of a legal battle. Also during its ownership, Adani put approximately $1.8 billion into facility renovations.
“[This] transition is a key milestone in our well-advanced plans for Abbot Point, and is yet another demonstration of Adani’s commitment to building a long-term future with Queensland,” Adani Australia CEO Jeyakumar Janakaraj told Reuters. “This is an exciting and important step forward for employees, their families, the Bowen and surrounding communities and for Queensland, and reflects the vital role that Abbot Point plays in the company’s plans to build a long-term future in this state.”
Glencore will continue to supply export coal though the terminal, located north of Bowen.
