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Adani Greenlights Carmichael Project in Australia

Indian billionaire Gautam Adani gave the “green light” to the Carmichael mine and rail project, according to the Guardian, but it will still hinge on its Australian arm, Adani Mining, and its ability to fund the project. “The final investment decision marked the official start of one of the largest single infrastructure — and job-creating — developments in Australia’s recent history,” Adani said. The company, however, has not secured its bid for a A$900 million loan from the federal government for a railway that would provide service to it and other miners in Queensland’s Galilee Basin.

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Posco to Build Second Coal-fired Power Plant in Vietnam

South Korea’s POSCO Group received approval to build its second coal-fired power plant in Vietnam. The Quynh Lap 2 project, valued at more than $2.5 billion, will be built in the north-central Nghe An province, on a land area of 171 ha and 37 ha of water surface. Quynh Lap 2 will operate two units with a total capacity of 1,200 megawatts (MW). Construction is expected to begin in 2022 and the project should be completed in 2026. Construction of Quynh Lap 1 began in October 2015 with total investment of $2.2 billion and Vinacomin as the investor. It is expected to begin operations in 2020.

 

Indian Brings Coal Export Plans Back to the Table

 Barely months after pushing it to the backburner, India has put plans for exporting coal back on the table to cope with the problem of too much supply. With rising pithead stocks of Coal India Ltd. (CIL) and slowdown in off-take by thermal power plants, the country’s Ministry of Coal was once again readying to scout for overseas buyers of Indian coal.

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Fact-finding Committee to Probe Coal Mine Incident in Northern Iran

 The Fars News Agency in Tehran reported that Iranian Industry Minister Mohammad Reza Nematzadeh declared that a special team will probe into a deadly coal mine explosion in the northern part of the country. “A fact-finding committee has been set up to look into the incident caused by a deadly blast in Zemestanyurt coalmine in the northern city of Azadshahr in Golestan province,” Nematzadeh said.

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Eskom Policies Cause Shift Among South African Coal Operators

 Just a few years ago, South Africa’s coal industry was on the up and up, shrugging off the malaise affecting the industry elsewhere. Now, many producers face closure in a stunning reversal of fortunes.

As coal mines closed in the U.S., the U.K. and elsewhere, South Africa’s mines appeared to thrive. The world’s sixth largest exporter, the country’s mines were, however, geared mostly toward a single local customer — state electricity utility Eskom.

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