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Home › Dodgy Deals ›
Dodgy Deal
Carmichael coal mine projectAustralia

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Contact:

climate@banktrack.org

Last update: 2022-08-18 17:18:17
Carmichael coal mine project. Photo: courtesy of Tom Jefferson, Greenpeace

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Contact:

climate@banktrack.org

Last update: 2022-08-18 17:18:17
Why this profile?

Why this profile?

The Carmichael coal mine project is built on the ancestral lands of Indigenous Australians who never gave Adani their consent. The project is having a negative impact upon its immediate environment, but it is also contributing significantly to climate breakdown: Carmichael will emit approximately 4.7 billion tonnes of carbon pollution over its anticipated 60-year lifespan.

What must happen

Banks and other financial institutions should declare their intention not to finance the Carmichael coal mine project. Banks providing services for Adani must refuse to arrange finance for any mine expansions and demand the winding down of extraction as soon as possible.

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Sectors Coal Mining
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Closure
Decommission
Website https://www.bravus.com.au/carmichael-mine/

The Carmichael coal mine project is located in Australia’s North Galilee Basin, in central Queensland. The open-cut mine is owned and operated by the Indian conglomerate Adani, which renamed its Australian arm to Bravus Mining and Resources in late 2020. The mine has the production approval for 60 million tonnes of thermal coal per year, but in 2018 this goal was scaled down to 10 million tonnes per year when Adani struggled to obtain sufficient funds. Accordingly, construction costs shrank from an estimated AUD 16.5 billion to AUD 2 billion. The project incorporates hundreds of kilometres of railway tracks, leading to the North Queensland Export Terminal, which threatens the Great Barrier Reef. From there, Carmichael’s coal is shipped to India and Southeast Asia. Construction began in June 2019 and the mine’s first shipment left Australia at the end of 2021.

Impacts

Impact on human rights and communities

The infringement of Indigenous Australian rights has been central to the development of the Carmichael coal mine. The facility has been built on the land of the Wangan and Jagalingou peoples, who strongly opposed the project. In 2018, an Australian court quashed a case brought against Adani’s plans by the Wangan and Jagalingou peoples. In August 2019, it was revealed that the Queensland government had granted Adani exclusive possession freehold title over the land in question, without any public consultation. This decision effectively made Wangan and Jagalingou protestors trespassers on what is considered to be their traditional lands.


Impact on climate

Colossal carbon dioxide emissions will follow as Carmichael’s coal reserves are steadily extracted and burned. The mine produces 10 million tonnes of coal per year, making it responsible for emitting an estimated 20 million tonnes of CO2. If the mine fulfils its potential, output would increase to 60 million tonnes of coal per year.

In 2015, The Australia Institute think tank calculated that, if and when Carmichael produces 60 million tonnes of coal per year, it will have higher annual emissions than Bangladesh. In 2017, the Climate Council of Australia reported that the country must not develop any new thermal coal mines if Australia’s commitments under the Paris Climate Agreement are to be achieved.


Impact on nature and environment

Vital habitat is being lost to make way for the Carmichael project’s sprawl. If the mine reaches full capacity it will cover 44,700 hectares, including 20,000 of bushland that sustains threatened species. For example, 16,000 hectares of endangered black-throated finch habitat has already been impacted or destroyed and in April 2022, conservationists accused Adani of failing to respect its habitat offsetting commitments.

Significant local groundwater drawdown threatens an array of habitats and animals. A Great Artesian Basin discharge spring wetland called Doongmabulla Springs will be impacted, which hosts endemic and threatened plant species that may not survive without it. In 2021, a scientific paper authored by Adelaide’s Flinders University concluded that the hydrogeology of this wetland was still not adequately understood, which puts it at risk of irreversible decline.

Necessary for the mine’s operations, this drawdown is expected to impact groundwater-dependent species and communities along the Carmichael River, such as red river gum trees that provide koala habitat. The ‘Water Resources’ chapter of the Carmichael coal mine’s Environmental Impact Assessment (EIS) states “riparian vegetation, particularly the stands of mature River Red Gum and Paper Bark tree communities, may be potentially impacted by a reduction in the direct groundwater discharges underlying the river and discharge from the Doongmabulla Springs. Any significant reduction in groundwater levels and or surface water flows in the Carmichael River [...] has the potential to impact on the health of these communities.” The EIS failed to analyse this impact, instead suggesting “ongoing monitoring [...] to quantify the magnitude of these impacts.”

The draining of water sources in the wider area is necessary for the Carmichael project. In June 2018, Adani stated its intentions to take 10 billion litres of water from the Suttor River for the mine, necessitating a dam and pipeline. Approximately 300 kilometres east of the North Galilee Basin, the area surrounding the Sutton River was experiencing a drought at the time. Adani claimed an EIS was unnecessary for this proposal however, because it was not covered by a Federal water trigger. Such tactics raised the question of whether or not Australia’s development approvals system is adequately equipped to protect the environment.


Other impacts

The erosion of state authority and environmental protections is a long-established Adani hallmark. Adani's flagship project is the largest private port in India, Mundra in Gujarat. Adani deliberately concealed and falsified material facts during Mundra’s application process. Construction began illegally and multiple violations of the development approvals included the mass clearing of mangroves.

In 2020, Adani pled guilty to giving 'false or misleading documents’ to Queensland's environmental regulator and was fined AUD 20,000.

Financiers

In late 2018, Adani announced that it would finance the Carmichael project itself, but in August 2021 it was reported that the State Bank of India was still considering arranging a AUD 1 billion loan for Bravus Mining and Resources (Adani Australia).

It has been established that a selection of other banks could also be financing the Carmichael project unintentionally. Deutsche Bank, Standard Chartered, Barclays and JPMorgan Chase all refused to arrange finance for Carmichael, but each was appointed to run a USD 1.25 billion bond issue for Adani Ports and Special Economic Zone (APSEZ) in 2020; Adani may be able to shift these funds to Australia.

For financiers of Adani see BankTrack's Adani Group profile.

Institution type
Finance type
Year

In August 2015, Commonwealth Bank of Australia (CBA), followed by Standard Chartered, backed off from the Carmichael project. In September 2015 National Australia Bank (NAB) declared to rule out financing for the Carmichael project, adding itself to a list of fourteen international banks (among them Deutsche Bank, HSBC, State Bank of India) which already decided so.

Companies

Project sponsor

Adani Group

India
Profile
Website
Owner and operator and Carmichael coal mine via its Australian subsidiary Bravus Mining and Resources
No companies
Governance
Norms & standards

Applicable norms and standards

1972 Convention on the Prevention of Marine Pollution by Dumping Wastes and other Matters
Alliance for responsible mining
Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act)
Extractive Industries Transparency Initiative
International Council on Mining and Minerals (ICMM)- 10 Principles
OECD Guidelines for Multinational Enterprises
Safety and Health in Mines Convention
United Nations Declaration on the Rights of Indigenous Peoples
Universal Declaration of Human Rights
News
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External
Blog
BankTrack news BankTrack blog Partner news Partner blog

Time to end metallurgical coal expansion

NGOs launch first Met Coal Exit List for the finance industry
2025-01-23 | Berlin | BankTrack, urgewald, Coal Action Network, Coal-free Finland, Ecodefense, Global Energy Monitor, Nordic Center for Sustainable Finance, Rainforest Action Network, Reclaim Finance, SteelWatch, The Sunrise Project
BankTrack news BankTrack blog Partner news Partner blog

Adani group firms pledge additional shares for key lender

2023-02-11 | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

Japan’s megabanks: no net-zero banking ambition

All 3 banks keep financing companies with coal expansion plans, without any restriction
2022-08-24 | Reclaim Finance
BankTrack news BankTrack blog Partner news Partner blog

Adani Carmichael Coal Mine destroying cultural artifacts of indigenous Australians

2022-08-24 | Counterview
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous Australians to investors: Dump Adani Group

55 banks dropped direct financing of the Carmichael Adani Coal Mine - yet indirect investment keeps it afloat
2022-08-22 | Queensland, Australia | BankTrack, Rainforest Action Network, TippingPoint Australia, Wangan and Jagalingou Nagana Yarrbayn Cultural Custodians
Blog
BankTrack news BankTrack blog Partner news Partner blog

Adani Group (financed by JP Morgan, MUFG, HSBC, BlackRock) is running an enormous fossil fuel project in Australia, violating Indigenous Rights

2022-08-22 | BankTrack, Rainforest Action Network, TippingPoint Australia, Wangan and Jagalingou Nagana Yarrbayn Cultural Custodians
BankTrack news BankTrack blog Partner news Partner blog

Legal advice says Deutsche Bank breaching own coal policy by financing companies building new coal mines

2022-08-10 | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

How Australia’s expanding environmental movement is breaking the climate action deadlock in politics

2022-06-08 | The Conversation
BankTrack news BankTrack blog Partner news Partner blog

U turn? MNC banks now okay with Adani 'interest' in emissions-intensive industry

2022-06-02 | Counterview
BankTrack news BankTrack blog Partner news Partner blog

‘Highly implausible’ that new Galilee Basin coalmines would be profitable, study finds

2022-05-26 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Revealed: HESTA and other super funds investing in Adani coal mining subsidiary

2022-05-23 | Market Forces
Blog
BankTrack news BankTrack blog Partner news Partner blog

Standard Chartered and Barclays fund Adani’s coal mining subsidiary

Both banks have previously stated they would not participate in financing the company's controversial coal enterprise
2022-05-19 | Australia | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

Indigenous custodians target Deutsche Bank for ‘breaking promise’ on Adani

2022-05-18 | National Indigenous Times
Blog
BankTrack news BankTrack blog Partner news Partner blog

Net zero vs zero ambition - the choice at Standard Chartered AGM

No further update on last year's climate policy, as rival banks leave Standard Chartered isolated on climate
2022-03-29 | United Kingdom | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

Exclusive: Helvetia rules out involvement in controversial Adani coal mine

2022-02-09 | Global Trade Review
BankTrack news BankTrack blog Partner news Partner blog

Billionaire Adani’s disputed mine shows ditching coal isn’t easy

After years of protests, a divisive fossil fuel project is starting in Australia and underscores the difficult path to overhauling the world’s energy sector
2021-12-06 | Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

US bank BNY Mellon cuts ties with Adani’s Carmichael coal mine

Bank says Queensland mine and rail line do not fit in with its environmental, social and governance principles
2021-11-08 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Banks’ green pledges under scrutiny

Financial sector pressured to cut exposure to carbon-intensive industries
2021-11-02 | Financial Times
BankTrack news BankTrack blog Partner news Partner blog

Bank of New York Mellon involved in potential Adani coal deal

It has been revealed that an Australian subsidiary of Bank of New York Mellon (BNYM) could be playing a role in a new funding deal linked to Adani’s Carmichael coal project
2021-10-21 | MarketForces
Blog
BankTrack news BankTrack blog Partner news Partner blog

Standard Chartered shareholders challenge bank to live up to net zero promise on fossil fuels

2021-10-07 | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

New Adani mine project puts remote Indian villages at the coalface

2021-09-15 | Adani Watch
Blog
BankTrack news BankTrack blog Partner news Partner blog

Deutsche Bank, JPMorgan and Standard Chartered break promise and loan US$1 billion to Adani coal miner

2021-08-20 | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

State Bank of India still considering loan to “fully funded” Adani coal project

2021-08-05 | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

Adani wants children to solve global warming while it makes things worse

Market Forces has published a compilation of Adani Group’s many massive fossil fuel expansion plans.
2021-07-12 | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

Arch Capital Group rules out underwriting controversial Adani coal mine

2021-04-28 | Insurance Business Australia
BankTrack news BankTrack blog Partner news Partner blog

Top Indian bank drags its feet on billionaire Adani coal loan

Two senior State Bank of India executives, who asked not to be identified, said the bank was dragging its feet on extending part of a funding line of as much as $1 billion to Adani Enterprises Ltd., which plans to use the money for the controversial Carmichael mine.
2021-04-09 | Energy World
Blog
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Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement

Even amidst the global economic downturn, fossil fuel financing numbers were higher in 2020 than 2016
2021-03-24 | Nijmegen | BankTrack, Indigenous Environmental Network, Oil Change International, Rainforest Action Network, Reclaim Finance, Sierra Club
BankTrack news BankTrack blog Partner news Partner blog

HSBC shareholders seek exit from funding Adani's 'contentious' Australian coalmine

2021-03-13 | Counterview
BankTrack news BankTrack blog Partner news Partner blog

Siemens under pressure again over Australia mega coal mine

Siemens faces renewed pressure from protesters in Australia demanding the German engineering company quit a mega mining project that has breached environmental protection rules.
2021-03-12 | Reuters
BankTrack news BankTrack blog Partner news Partner blog

Major Lloyd's insurer Brit says it will not insure Adani's Carmichael thermal coal mine

2021-02-23 | Economic Times
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Bravus (formerly Adani) accused of environmental breaches, amid concerns about 'significant erosion'

2021-02-05 | ABC News
BankTrack news BankTrack blog Partner news Partner blog

Adani Ports bonds issue: DB backed out on green concerns

2021-01-28 | The Economic Times
BankTrack news BankTrack blog Partner news Partner blog

DRA Global secures $108m contract for Carmichael project in Australia

DRA Global (DRA) has secured a contract worth A$140m ($108.2m) from Bravus Mining and Resources (formerly Adani) for the Carmichael coal mine and rail project in Queensland, Australia.
2021-01-21 | MiningTechnology
BankTrack news BankTrack blog Partner news Partner blog

Adani to Raise $2.5 Billion From Green Deal With Total

2021-01-18 | Bloomberg.com
BankTrack news BankTrack blog Partner news Partner blog

Big banks lead SBI bond despite Adani controversy

2021-01-06 | Global Capital
BankTrack news BankTrack blog Partner news Partner blog

BlackRock, Storebrand pressure Indian bank over coal mining loan

2020-12-04 | Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

Amundi gives bond warning to State Bank of India over Adani's Australian coal mine

2020-12-01 | CNBC-TV18
BankTrack news BankTrack blog Partner news Partner blog

“No 1B Adani Loan” Protestors Barge Into Sydney Cricket Ground In A Bid To Protest Against SBI

2020-11-28 | The Indian Wire
BankTrack news BankTrack blog Partner news Partner blog

#StopAdani protesters tresspass into the INDvsAUS ODI match

2020-11-20 | magazine99
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State Bank of India set to offer Rs 5000 cr loan to Carmichael coal project in Australia

2020-11-17 | New Delhi | Business Standard
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Calls for Lloyd's of London to rule out insurance for Adani coal mine

2020-10-23 | Insurance Business Australia
BankTrack news BankTrack blog Partner news Partner blog

Queensland teenagers lodge legal action against Adani coal mine to save Great Barrier Reef

2020-10-22 | ABC News Australia
BankTrack news BankTrack blog Partner news Partner blog

Queensland strikes royalties deal with Adani coalmine, allowing it to defer payment

2020-10-01 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Adani legal action sparks fears journalists could be targeted over Carmichael mine leaks

2020-09-28 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Access to Adani’s Carmichael coal mine in Queensland blocked by traditional owners

2020-08-24 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Second major Korean brokerage withdraws financial backing for Adani's coal projects

2020-08-02 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Adani mine: three major insurers to have no further involvement in coal project

2020-06-11 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Australia: Activists outraged as Siemens backs Adani mining project

2020-01-13 | Deutsche Welle
Blog
BankTrack news BankTrack blog Partner news Partner blog

Coal finance exit in France – Banks and insurers urged to drop coal expansion clients and make good on commitments

2019-11-14 | Paris, France | BankTrack, Unfriend Coal
BankTrack news BankTrack blog Partner news Partner blog

A message from Wangan & Jagalingou Traditional Owners

2019-09-02 | 350.org
BankTrack news BankTrack blog Partner news Partner blog

Queensland extinguishes native title over Indigenous land to make way for Adani coal mine

2019-08-31 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

How one billionaire could keep three countries hooked on coal for decades

2019-08-15 | The New York Times
BankTrack news BankTrack blog Partner news Partner blog

Adani still vulnerable on insurance for its Carmichael mine and railway

2019-06-28 | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

Adani’s coal mine obtains cover despite backlash

2019-06-24 | Insurance Asia News
BankTrack news BankTrack blog Partner news Partner blog

The Carmichael Coal Mine: Despite Approval, Uncertainties Abound

2019-06-17 | The Diplomat
BankTrack news BankTrack blog Partner news Partner blog

Campaigners criticise 'reckless' approval of Adani mine in Australia

2019-06-14 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Adani Mining’s Carmichael coal mine plan gets the thumbs up

2019-06-13 | Im-mining.com
BankTrack news BankTrack blog Partner news Partner blog

IEEFA Australia: Queensland government about to make poor economic decision on Adani mine

2019-06-11 | IEEFA
BankTrack news BankTrack blog Partner news Partner blog

Non, merci! Rothschild & Co. walks away from Adani

2019-05-16 | Market Forces
Blog
BankTrack news BankTrack blog Partner news Partner blog

Rothschild & Co bank called on to end support for Adani’s massive new coal mine

2019-04-30 | Lucie Pinson – Les Amis de la Terre
BankTrack news BankTrack blog Partner news Partner blog

Media Release: World’s biggest insurers will not cover Adani Group’s Carmichael coal mine

2018-12-20 | Market Forces
Blog
BankTrack news BankTrack blog Partner news Partner blog

Korea Development Bank rules out financing the Adani Carmichael coal mine and infrastructure

2018-11-05
BankTrack news BankTrack blog Partner news Partner blog

Carmichael the coal mega-project Adani just can't kill

2018-09-13 | Financial Review
BankTrack news BankTrack blog Partner news Partner blog

State and federal investigation launched into Adani's Carmichael water drilling

2018-09-12 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Adani looks to Rothschild to sell slice of its coal port operations

2018-05-22 | The Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

Adani losses prompt mining company to shift away from imported coal

2018-05-07 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

The war on coal is making the world’s top mine owners a lot richer

BankTrack mentioned
2018-05-02 | Bloomberg
BankTrack news BankTrack blog Partner news Partner blog

Federal government to lend money to Adani business associates

2018-03-05 | The Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

Adani's mega mine: it's not over yet

2018-01-10 | The Age
Blog
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Chinese banks rule out Carmichael coal mine!

2017-12-05 | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

Indigenous group mounts last-ditch court bid against Adani

2017-12-03 | The NewDaily
BankTrack news BankTrack blog Partner news Partner blog

Adani Group: China Construction Bank won't grant loan, PR firm says

2017-12-02 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Profits of Adani's Carmichael mine company tumble, leaving it in financial peril

2017-11-14 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Westpac out of Adani Abbot Point refinancing?

2017-10-16 | Market Forces
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Adani says it will break ground on Carmichael rail link 'within days'

2017-10-13 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Abbot Point coal terminal: Westpac may not refinance Adani loan

2017-10-12 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Banks shy away from Adani's $US500m bond issue

2017-10-12 | Financial Review
BankTrack news BankTrack blog Partner news Partner blog

Adani: Thousands turn out across Australia to protest against Carmichael coal mine

2017-10-07 | Abc.net.au
BankTrack news BankTrack blog Partner news Partner blog

IEEFA Australia: Escalating financial risk in Adani's Abbott Point Coal Terminal

2017-10-02 | IEEFA
BankTrack news BankTrack blog Partner news Partner blog

Adani will begin construction of its Carmichael coal mine in October

2017-08-29 | News.com.au
BankTrack news BankTrack blog Partner news Partner blog

Adani mining giant faces financial fraud claims as it bids for Australian coal loan

2017-08-15 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Carmichael coalmine: Commonwealth Bank indicates it will not lend to Adani

2017-08-11 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Adani will have to dig deep as banks shun Carmichael

2017-07-03 | The Financial Times
BankTrack news BankTrack blog Partner news Partner blog

Queensland Investment Corporation denies planning to fund Galilee coal mines

2017-06-27 | Abc.net.au
BankTrack news BankTrack blog Partner news Partner blog

Why NAIF can't fund Adani

2017-06-07 | Climate Council
BankTrack news BankTrack blog Partner news Partner blog

Adani gives 'green light' to $16bn Carmichael coal mine

2017-06-06 | The Guardian
Blog
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Westpac’s new climate policy rules out most new coal mines – including Carmichael!

2017-04-28 | Market Forces
Blog
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Westpac’s new climate policy rules out most new coal mines – including Carmichael

2017 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Commonwealth Bank indicates it will not lend to Adani's Carmichael coalmine

2017 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Adani coalmine: ANZ chief suggests bank would not finance Carmichael project

2016-12-17 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Adani Carmichael coal mine rail line and camp approved

2016-12-05 | The Syney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

We should be putting the brake on the Carmichael coalmine, not hitting the accelerator

2016-10-14 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Carmichael mine to be given 'essential' status in sign of Palaszczuk support

2016-10-09 | The Guardian
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Indigenous opponents of Adani's Carmichael mine to intensify court battle

2016-03-16 | The Guardian
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Adani freezes investment in Carmichael mine until world coal price recovers

2016-02-04 | The Guardian
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Australian coalmines are one of riskiest investments in the world – report

2016-01-28 | The Guardian
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Pressure mounts on Adani go-ahead

2016-01-23 | The Australian
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Four reasons why the Carmichael mine still might not go ahead

2015-10-16 | EnergyDesk
BankTrack news BankTrack blog Partner news Partner blog

NAB rules out funding Adani's Carmichael mine as buyer LG pulls out

2015-09-03 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

National Australia Bank rules out funding Adani's Carmichael coal mine

2015-09-03 | The Sydney Morning Herald
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Adani loses LG as big customer for Carmichael mine

2015-09-03 | The Sydney Morning Herald
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When NAB ruled out funding Carmichael coal…

2015-09-02 | Market Forces
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Treasurer Curtis Pitt says Galilee Basin mining not the be-all and end-all for Queensland economy

2015-08-26 | The Courrier Mail
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Adani rail link a focus for fed, Qld govts

2015-08-24 | AAP
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Adani’s Australia coal project may turn a ‘stranded asset’: Citi

2015-08-24 | The Hindu
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Adani mine approvals one step closer

2015-08-20 | The Australian Financial Review
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How Adani group can get its USD7.2 billion coal mine project in Queensland back on track

2015-08-20 | The Economic Times
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Global insurer Aviva warns of 'grave reputational risks' of Carmichael mine

2015-08-13 | The Guardian
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Adani cancels second bank, Standard Chartered, from Carmichael project

2015-08-11 | The Australian Financial Review
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Standard Chartered quits controversial Carmichael coalmine in Queensland

2015-08-10 | The Guardian
Blog
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Major UK bank ditches giant coal mine threatening Great Barrier Reef

2015-08-10 | London | Greenpeace
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Adani mine's fate may hang in balance for some time

2015-08-07 | The Sydney Morning Herald
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Tony Abbott's defence of the Carmichael coalmine is passionate but baseless

2015-08-07 | The Guardian
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Adani could pull out of USD16.5 billion project

2015-08-07 | Townsville Bulletin
Blog
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Commonwealth pulls out of Carmichael mega-mine

2015-08-06 | Market Forces
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Standard Charter faces calls to quit 'carbon bomb' mine

2015-08-06 | The Independent
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Adani's coal pariah the last hope for Queensland's Galilee Basin

2015-08-06 | The Australian Financial Review
Blog
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Costly Coal - Standard Chartered's role in a coal project threatening the Great Barrier Reef

2015-08-05 | Greenpeace UK
BankTrack news BankTrack blog Partner news Partner blog

Future of Carmichael mine hinges not on skinks or snakes, but its business case

2015-08-05 | The Guardian
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Greenpeace calls for Adani licence to be revoked over Carmichael mine

2015-07-22 | The Sydney Morning Herald
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Adani dissolves 50-strong project team from troubled USD16.5 billion Carmichael mine

2015-07-22 | The Guardian
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Adani stands down major contractors

2015-07-21 | The Sydney Morning Herald
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Uncertain future for Adani’s Carmichael coal mine

2015-07-01 | Global Trade Review
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Queensland government denies delaying Adani's Carmichael mine

2015-06-24 | The Guardian
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Adani halts engineering work on controversial Carmichael mine – sources

2015-06-23 | The Guardian
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Indigenous Australians call on Standard Chartered not to fund coal mine project

2015-06-12
Blog
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Pressure builds for UK’s Standard Chartered to refuse investment to Great Barrier Reef coal project

2015-06-09 | London | Greenpeace UK, 350.org
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Aboriginal landowners throw fresh legal challenge to Adani Group's Carmichael coal project in Australia

2015-05-30 | The Economic Times
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Australia Lures USD21 Billion Bet on Coal Rebound: Energy Markets

2015-05-24 | Bloomberg
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Don’t invest in Australia coal mines, scientists warn banks in bid to halt climate change

2015-05-22 | South China Morning Post
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Commonwealth Bank under pressure to rule out Galilee coal support

2015-05-21 | Tree Alert
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The financial case against Australia's largest coal mine

2015-05-14 | The Guardian
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Standard Chartered vows to review role in Australian coal mine project

2015-05-06 | The Guardian
Blog
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Greenpeace activists protest Standard Chartered’s role in reef wrecking coal mine

2015-05-06 | Hong Kong | Greenpeace
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Standard Chartered faces pressure to cut links to Australian 'carbon bomb' project

2015-05-05 | The Guardian
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Queensland's miners will need a miracle to profit from coal now

2015-04-29 | The Guardian
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Adani Mining feels heat over USD14 billion Galilee Basin coal mine gap

2015-04-28 | The Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

Adani Carmichael mine to create 1,464 jobs, not 10,000

2015-04-28 | Brisbane Times
BankTrack news BankTrack blog Partner news Partner blog

Adani coalmine would not deliver jobs and royalties promised, land court hears

2015-04-27 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Adani Group in talks with Korea, China banks for Australia project

2015-04-22 | LiveMint
BankTrack news BankTrack blog Partner news Partner blog

The quiet death of the SBI-Adani loan agreement

2015-04-20 | LiveMint
BankTrack news BankTrack blog Partner news Partner blog

Adani’s Carmichael coal mine a step closer

2015-04-17 | The Courrier Mail
BankTrack news BankTrack blog Partner news Partner blog

Australian banks may still want to fund Adani’s disputed coal project

2015-04-17 | The Economic Times
BankTrack news BankTrack blog Partner news Partner blog

Adani project faces fresh trouble by Australian aboriginals

2015-04-15 | The Economic Times
BankTrack news BankTrack blog Partner news Partner blog

Adani, the new coal Tar Baby

2015-04-13 | The Australian Financial Review
BankTrack news BankTrack blog Partner news Partner blog

Adani has ambitious plan to open Carmichael megamine in Galilee Basin by 2017

2015-04-10 | The Courrier Mail
BankTrack news BankTrack blog Partner news Partner blog

Three French banks refuse to finance Galilee Basin projects

2015-04-09 | Mining Innovation News
BankTrack news BankTrack blog Partner news Partner blog

French banks refuse to finance Great Barrier Reef coal mines ($)

2015-04-09 | Business Green
BankTrack news BankTrack blog Partner news Partner blog

Les banques françaises se retirent du plus grand projet charbonnier au monde

BankTrack mentioned
2015-04-08 | Le Monde
Blog
BankTrack news BankTrack blog Partner news Partner blog

Victory for the climate and environment: French banks pledge not to finance mega coal projects in Australia's Galilee Basin

2015-04-08 | Montreuil, France; Nijmegen, Netherlands | Friends of the Earth France / BankTrack
BankTrack news BankTrack blog Partner news Partner blog

India's Sysiphean task

2015-04-04 | The Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

Aboriginal group fights to stop $16bn Carmichael coalmine, Australia’s largest

2015-03-25 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Great Barrier Reef campaign: scientists call for scrapping of coal projects

2015-03-22 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

India's SBI to turn down Adani's $1 bln Australian loan request - sources

2015-03-13 | Reuters
BankTrack news BankTrack blog Partner news Partner blog

ASIC called on to investigate Adani

2015-03-12 | Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

Risky future for Bowen and Galilee basins

2015-03-04 | Daily Mercury
BankTrack news BankTrack blog Partner news Partner blog

Nick Minchin lobbies foreign banks over Abbot Point investment

2015-02-11 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Adani's $10-billion gamble

2015-01-18 | business today india
BankTrack news BankTrack blog Partner news Partner blog

The court case that could choke mining in Australia

2015-01-16 | news.com.au
BankTrack news BankTrack blog Partner news Partner blog

With Queensland election promises, and mining projects, it's wise to keep digging

2015-01-14 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Federal court asked to overturn Adani mine approval due to impact on Great Barrier Reef

2015-01-14 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Abbot Point: onshore dump would favour Adani, say coal miners

2015-01-12 | The Guardian
Blog
BankTrack news BankTrack blog Partner news Partner blog

Three French banks refuse to finance Galilee Basin projects

2015 | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

Standard Chartered and CommBank pull out of massive Carmichael coal mine

2015 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Adani's Queensland coal rail deal gets extension of time

2014-12-16 | ABC
BankTrack news BankTrack blog Partner news Partner blog

Keystone XL and Galilee basin threaten to bring down the global climate talks

2014-12-10 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Activists Gun For Indian Billionaire's Great Barrier Reef Project

2014-12-02 | Forbes
BankTrack news BankTrack blog Partner news Partner blog

$1 billion Adani loan: Commercial decision or politics at play?

2014-12-01 | live mint
BankTrack news BankTrack blog Partner news Partner blog

Trinamool slams SBI's $1-bn loan to Adani group

2014-11-27 | Hindustan Times
BankTrack news BankTrack blog Partner news Partner blog

Australia's Partnership With an Indian Mining Giant Could Destroy the Great Barrier Reef

2014-11-25 | VICE News
BankTrack news BankTrack blog Partner news Partner blog

National Stock Exchange of India quizzes Adani on loan for Galilee Basin coal project

2014-11-19 | The Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

Adani’s week of positives in an anti-coal atmosphere

2014-11-19 | The Australian Financial Review
BankTrack news BankTrack blog Partner news Partner blog

Wise investment or fossil fools? Queensland backs coal as G20 moves the game on

2014-11-17 | The Sydney Morning Herald
Blog
BankTrack news BankTrack blog Partner news Partner blog

RAN Applauds Move by U.S. Banks to Reject Australian Coal Port

Abbot Point coal export project presents dire threat to climate and to the Great Barrier Reef
2014-10-27 | San Francisco | Rainforest Action Network
BankTrack news BankTrack blog Partner news Partner blog

Carmichael mine: Indian conservation group joins legal battle with Adani

2014-10-09 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Crunch time for coal frontiers as costs could scuttle

2014-10-08 | The Australian Financial Review
BankTrack news BankTrack blog Partner news Partner blog

Take it from us in India: the world needs renewables, not more Australian exported coal

2014-10-02 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

The environment deserves more than this drop in a bucket

2014-08-18 | The Courrier Mail
BankTrack news BankTrack blog Partner news Partner blog

Adani needs capital to fund Galilee coal project

2014-08-09 | The Australian Financia Review
BankTrack news BankTrack blog Partner news Partner blog

India’s Adani to proceed with $16b Queensland coalmine

2014-08-08 | The Australian Financial Review
BankTrack news BankTrack blog Partner news Partner blog

The great Australian coal race is on

2014-08-08 | The Australian Financial Review
BankTrack news BankTrack blog Partner news Partner blog

Greg Hunt says green-lighted Galilee Basin coal mine won't have big impact on Great Barrier Reef

2014-07-29 | ABC Australia
BankTrack news BankTrack blog Partner news Partner blog

Increase in clean energy cess on imported coal: Adani, GVK and Tatas to redraw foreign assets

2014-07-14 | Business Standard
BankTrack news BankTrack blog Partner news Partner blog

Australian banks face more pressure over support for coal projects

2014-07-09 | The Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

Queensland shelves A$10bn Great Barrier Reef coal port

2014-06-20 | Financial Times
BankTrack news BankTrack blog Partner news Partner blog

Australian coal industry caught in ‘perfect storm’

2014-06-19
BankTrack news BankTrack blog Partner news Partner blog

RBS joins move to shun Abbot Point financing

2014-06-19 | The Australian
Blog
BankTrack news BankTrack blog Partner news Partner blog

Royal Bank of Scotland Rules Out Financing Major Coal Port Expansion

Follows Deutsche Bank and HSBC
2014-06-18 | Edinburgh | BankTrack, Greenpeace, 38 Degrees, AMCS
BankTrack news BankTrack blog Partner news Partner blog

Coal demand falls globally; Adani,GVK to take a hit

2014-05-29 | The Economic Times
BankTrack news BankTrack blog Partner news Partner blog

Adani Group's Great Barrier Reef Project In Troubled Waters

2014-05-29 | Forbes
BankTrack news BankTrack blog Partner news Partner blog

Adani in landmark private bond

2014-05-24 | IFR Asia
Blog
BankTrack news BankTrack blog Partner news Partner blog

Deutsche Bank says No to Financing of Coal Harbor on the Great Barrier Reef

2014-05-22 | Frankfurt | urgewald and Market Forces
BankTrack news BankTrack blog Partner news Partner blog

Adani Enterprises may raise USD 1.5 bn via overseas bonds

2014-05-19 | CNBC
BankTrack news BankTrack blog Partner news Partner blog

Adani forced to wait longer for Carmichael coal mine approval

2014-05-18 | Australian Mining
BankTrack news BankTrack blog Partner news Partner blog

Galilee Basin coalmine: Queensland government granted approval despite expert environmental concerns

2014-05-13 | ABC Net
BankTrack news BankTrack blog Partner news Partner blog

Adani's Oz coal mine gets okay

2014-05-09 | Business Standard
BankTrack news BankTrack blog Partner news Partner blog

Adani, GVK, Lanco seek to cut stake in Australian coal mines

2014-05-09 | Business Standard
BankTrack news BankTrack blog Partner news Partner blog

Adani arm to raise  $1.5 bn in overseas debt in 2014

2014-05-08 | India | Live Mint
BankTrack news BankTrack blog Partner news Partner blog

Queensland approves construction of one of world's biggest coal mines

2014-05-08 | Australia | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Doubts raised over financial viability of Galilee Basin coal mine proposal

2014-05-06 | The Sydney Morning Herald
BankTrack news BankTrack blog Partner news Partner blog

Australian coalmining is entering ‘structural decline’, reports says

2014-05-05 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

India unlikely to be able to afford Australian coal

2014-05-05 | ABC
BankTrack news BankTrack blog Partner news Partner blog

Press release – The beginning of the end of imported coal in India: report exposes economic flaws

2014-05-05
Blog
BankTrack news BankTrack blog Partner news Partner blog

Big Four Australian banks lose customers over fossil fuel gamble

2014-05-03 | Melbourne | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

UNESCO condemns Federal Government's approval of dredge spoil on Great Barrier Reef

2014-05-01 | ABC
BankTrack news BankTrack blog Partner news Partner blog

Forecaster says mining in Galilee won't go ahead

2014-04-24 | ABC
BankTrack news BankTrack blog Partner news Partner blog

Modi-fied rally in Adani stocks not backed by fundamentals

2014-04-14 | Business Standard
BankTrack news BankTrack blog Partner news Partner blog

Questions around economic benefits of rail development

2014-04-08 | ABC
BankTrack news BankTrack blog Partner news Partner blog

Australia project: Adani, GVK expect financial closure by 2015

2014-04-02 | Livemint
BankTrack news BankTrack blog Partner news Partner blog

Adani may divest 50% stake in Australia mining, rail projects

2014-03-15 | Business Standard
BankTrack news BankTrack blog Partner news Partner blog

Greenpeace calls for Galilee Basin halt until threat to rare birds is assessed

2014-03-04 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

Carmichael Coal Mine: Unacceptable Impacts on Major Rivers and Groundwater

2013-12-08 | Lock the Gate Alliance
BankTrack news BankTrack blog Partner news Partner blog

Remote prospects in Adani's Galilee wish

2013-12-03 | Business Spectator
Blog
BankTrack news BankTrack blog Partner news Partner blog

Adani’s US$7bn Australian coal project unviable

2013-11-26 | Sydney | Greenpeace
BankTrack news BankTrack blog Partner news Partner blog

Doubts about Galilee Basin

2013-11-25 | ABC
BankTrack news BankTrack blog Partner news Partner blog

Reality check for Aussie debt

2013-11-02 | IFR Asia
BankTrack news BankTrack blog Partner news Partner blog

Stranded assets, anyone? Testing times for the fossil fuel market

2013-10-17 | Renew Economy
BankTrack news BankTrack blog Partner news Partner blog

Adani Abbot Point Terminal Plans $1.2 Billion Debt Issue

2013-10-15 | The Wall Street Journal
BankTrack news BankTrack blog Partner news Partner blog

Reef port builder Gautam Adani facing fines over India breaches

2013-08-09 | www.theaustralian.com.au
BankTrack news BankTrack blog Partner news Partner blog

Investors worried how long Adani Group will keep its head above water

2013-06-14 | Business Standard
BankTrack news BankTrack blog Partner news Partner blog

How Australian Coal is Causing Global Damage

2013-06-01 | The Monthly
BankTrack news BankTrack blog Partner news Partner blog

Gautam Adani bullish on prospects for India energy

2013-05-19 | Financial Times
Blog
BankTrack news BankTrack blog Partner news Partner blog

Report triggers campaign to prevent Australian fossil fuel investment

2013-05-02 | Brisbane | Market Forces
BankTrack news BankTrack blog Partner news Partner blog

Negotiations start for new QLD coal port

2013-03-15 | Australia | Australian Mining
BankTrack news BankTrack blog Partner news Partner blog

Greens protest Bowen coal mine

2011-08-31
Resources
Documents
Videos
Links
2022-05-04 00:00:00

Stranded Assets in the Coal Export Industry? The Case of the Australian Galilee Basin

Other document
2022-05-04 00:00:00 | DIW Berlin - German Institute for Economic Research
2021-07-12 00:00:00

Adani's massive fossil fuel expansion plans

NGO document
2021-07-12 00:00:00 | Market Forces
2020-10-22 00:00:00

Investor Briefing: Adani Ports to haul Carmichael coal, exposing investors to reputational & financial risks

NGO document
2020-10-22 00:00:00 | Market Forces
2020-10-20 00:00:00

Investor briefing: Adani Ports and Special Economic Zone (NSE/BSE: ADANIPORTS)

NGO document
2020-10-20 00:00:00 | Market Forces
2015-08-18 00:00:00

Environmental Impact Statement

Company document
2015-08-18 00:00:00 | GHD
2018-11-01 00:00:00

Adani Mining press release on financing Carmichael coal mine

Company document
2018-11-01 00:00:00 | Adani Mining
2017-10-02 00:00:00

A house of cards in Australia: Adani's Abbott Point coal terminal faces escalating financial risk

NGO document
2017-10-02 00:00:00 | IEEFA
2014-05-31 00:00:00

Coordinator- General’s evaluation report on the environmental impact statement

Other document
2014-05-31 00:00:00 | The State of Queensland, Department of State Development, Infrastructure and Planning
2017-05-19 00:00:00

Risky business: health, climate and economic risks of the Carmichael coalmine

NGO document
2017-05-19 00:00:00 | Climate Council of Australia
2017-02-15 00:00:00

The Adani Brief

What governments and financiers need to know about the Adani Group’s record overseas
NGO document
2017-02-15 00:00:00 | Environmental Justice Australia
2017-02-01 00:00:00

The Adani files

A short history of corruption, destruction and criminal activity
NGO document
2017-02-01 00:00:00 | GetUp!
2015-06-08 00:00:00

Standard Chartered's involvement in the Carmichael coal mine would be 'non-standard' and 'unchartered', on the bank's own terms

BankTrack publication
2015-06-08 00:00:00 | BankTrack
2015-05-31 00:00:00

(Mis)calculated risk and climate change. Are rating agencies repeating credit crisis mistakes?

NGO document
2015-05-31 00:00:00 | Center for International Environmental Law
2015-05-04 00:00:00

The end of coal?

2015 Coal Finance Report Card
BankTrack publication
2015-05-04 00:00:00 | BankTrack, Rainforest Action Network, Sierra Club
2015-04-14 00:00:00

A review of the Adani group’s environmental history in the context of the Carmichael coal mine approval

NGO document
2015-04-14 00:00:00 | Environmental Justice Australia
2014-05-05 00:00:00

Indian Power Prices

Briefing Note
NGO document
2014-05-05 00:00:00 | IEEFA
2014-02-18 00:00:00

Research Briefing: Adani’s record of environmental destruction and non - compliance with regulations.

NGO document
2014-02-18 00:00:00 | Greenpeace
2014-02-17 00:00:00

Impacts of the proposed Carmichael Coal Mine Project on the Black-throated Finch

NGO document
2014-02-17 00:00:00 | Greenpeace
2013-11-26 00:00:00

Remote Prospects

A financial analysis of Adani's coal gamble in Australia's Galilee Basin
NGO document
2013-11-26 00:00:00 | IEEFA, Greenpeace Australia Pacific
2013-10-20 00:00:00

INVESTOR BRIEFING:

Adani Abbot Point Terminal Debt Issue
NGO document
2013-10-20 00:00:00 | Greenpeace
2013-06-30 00:00:00

ADANI ENTERPRISES LTD

Quarterly risk summary
NGO document
2013-06-30 00:00:00 | Greenpeace
2013-03-17 00:00:00

Greenpeace submission for the Environmental Impact Statement for the Carmichael mine and rail project

NGO document
2013-03-17 00:00:00 | Greenpeace Australia
2013-02-11 00:00:00

Adani’s record of environmental destruction and non-compliance with regulations

NGO document
2013-02-11 00:00:00 | Greenpeace
2013-01-31 00:00:00

ADANI ENTERPRISES LTD

Quarterly Risk Summary – 31 Jan 2013
NGO document
2013-01-31 00:00:00 | Greenpeace
2012-09-18 00:00:00

Carmichael pages of the Galilee Basin report

NGO document
2012-09-18 00:00:00 | Greenpeace Australia

Tomorrow’s Generation: The Adani Carmichael Coal Mine

2022-08-18 17:19:29

Market Forces: NAB rules out funding for Carmichael coal mine

2022-08-18 17:19:08

UNESCO: Protect the Great Barrier Reef, Not Coal!

2017-07-28 10:01:18

Greenpeace threatened Species Unit in the Leard State Forest

2014-05-21 16:16:06

Abbot Point Wetlands: why risk this beautiful place for coal?

2014-05-21 16:11:21

Greenpeace action against coal

2014-05-21 16:09:26

Dirty vabks Financing Australian Coal

2014-05-21 16:01:56

Great Barrier Reef: Thrills and Spills

2014-05-21 15:59:40

Take Action: Adani Ports funding must not be shifted to Carmichael coal

Market Forces campaign page

Stop Adani movement website

The Adani List: Companies that could make or break the Carmichael coal project

#StopAdani Corporate Villains tour of Melbourne, 1 Nov 2017

Market Forces campaign page

Blogpost by Center for International Environmental Law

Credit Rating Agencies and a Dynamic Climate Change Trajectory

Blogpost by Center for International Environmental Law

No Parenthetical for Abbot Point: Risk Miscalculated

Blogpost by Center for International Environmental Law

Update on the Adani Coal Export Terminal

Take action: State Bank of India is considering throwing away $1b of Indian taxpayers’ money on Adani’s Australian coal project

Environmental Law Australia: Carmichael’s Queensland court cases

Legal case study detailing an environmental dispute over the Carmichael coal mine, heard in the Land Court of Queensland

The Guardian: Carmichael coal mine news hub

Global Energy Monitor: Carmichael Coal Project

Carmichael-related resources hub from the energy-dedicated digital encyclopaedia

Queensland Government: Carmichael coal mine and rail project overview

Updates

2022

2022-05-26 00:00:00 | Study declares Galilee Basin coal projects economically unviable

An analysis by German academics in conjunction with Australian experts has concluded that any new coal mines in Australia’s Galilee Basin are economically unviable in the long-term. The study says there is a high chance that any such project – including Adani’s Carmichael coal mine project – will become a stranded asset.

2021

2021-12-29 00:00:00 | Carmichael’s first coal shipment has left Australia

Following years of financial and environmental obstacles, the Carmichael coal mine project’s first shipment has set sail from the North Queensland Export Terminal. CEO David Boshoff said the project will “supply high-quality Queensland coal to nations determined to lift millions of their citizens out of energy poverty”.

2020

2020-12-01 00:00:00 | Amundi issues green bond warning to SBI

The French asset manager Amundi has threatened to sell green bonds it holds in State Bank of India (SBI), if the bank grants its proposed USD 650 million loan for Adani's Carmichael coal mine.

2020-11-17 00:00:00 | State Bank of India set to arrange Bravus coal mine loan

The State Bank of India (SBI) is set to arrange a USD 650 million loan for Adani’s Australian mining company, Bravus. Bravus is behind the controversial new Carmichael coal mine project.

2020-10-01 00:00:00 | Queensland signs deal permitting deferment of Adani royalty payments

In a move described as a “disgrace” by the Australian Conservation Foundation, the Queensland government has signed a deal permitting Adani to defer the payment of Carmichael coal mine royalties. Adani has been struggling to secure finance for the project, so this deal will facilitate cash flows.

2020-09-10 00:00:00 | Adani forced to haul its own coal

It has been revealed that Adani plans to establish its own rail company to transport its Carmichael coal from pit to port. Called Bowen Rail Company, there is no mention of Adani or Carmichael in any of its communications. Owned by Adani Ports and Special Economic Zone (APSEZ), Bowen Rail Company represents an opportunity for Adani to funnel money from APSEZ financiers into the unpopular Carmichael project.

2020-06-04 00:00:00 | Adani signs AUD 350 million deal for the construction of rail network

Adani has signed a AUD 350 million contract with BMD Group for the construction of a 200-kilometre rail network for its Carmichael coal mine.

2019

2019-06-13 00:00:00 | Carmichael mine receives final approval from state government

Queensland’s Department of Environment and Science has approved the Carmichael coal mine project’s Groundwater Dependent Ecosystems Management Plan. This final approval leaves Adani free to start construction.

2018

2018-11-05 00:00:00 | Adani shrinks plans for Carmichael coal mine project

Adani has scaled back its Carmichael coal mine plans, reducing the amount of capital needed by 80% to less than AUD 3 billion. The mine will now be built in phases and production will start at 10-15 million tonnes of coal per year, before expanding to 27 million (which would still rank Carmichael among Australia’s biggest coal mines). Plans for a new Abbot Point coal terminal have been shelved and the existing terminal will instead be expanded. This change has almost halved the rail line cost from approximately AUD 2.5 billion to AUD 1.2 billion.

2018-08-17 00:00:00 | Indigenous case against Carmichael mine thrown out

A court in Brisbane has quashed a case against Indian coal company Adani, brought by the Wangan and Jagalingou Indigenous people of Queensland’s Galilee Basin. The case argued that Adani did not seek the views of the Wangan and Jagalingou people regarding the Carmichael coal mine project.

2017

2017-08-29 00:00:00 | Adani to begin construction of Carmichael coal mine in October

Indian mining giant Adani has announced it will break ground on the Carmichael coal mine in October. The facility’s first coal is expected in March 2020.

2017-07-03 00:00:00 | Activists claim 21 banks have ruled out Carmichael financing

Adani is struggling to secure financing for its controversial Carmichael coal mine project. Research by green activists has established that 21 banks have so far steered clear of Adani’s mine, including the Commonwealth Bank of Australia, Standard Chartered, National Australia Bank, Deutsche Bank, HSBC and the State Bank of India.

2017-06-06 00:00:00 | Adani gives green light to Carmichael coal mine project

Indian billionaire Gautam Adani has approved the Carmichael coal mine and rail project. Bank financing for the project is still lacking and the company is yet to secure its bid for a AUD 900 million infrastructure loan from the Australian federal government. The loan would build a railway to Queensland’s Galilee Basin, which would open up the region to the wider mining industry. Adani’s top executive in Australia, Jeyakumar Janakaraj, voiced his displeasure with “activists who sit in creature comfort and criticise us”.

2017-02-15 00:00:00 | Environmental Justice Australia reveals Adani's disastrous track record

A detailed legal research brief by Environmental Justice Australia has revealed Adani’s long history of illegal dealings, bribery, environmental and social devastation, as well as a collection of allegations of corruption, fraud and money laundering at the company. The Adani Brief demonstrates that Australian governments and potential financiers are exposing themselves to financial and reputational risks by backing the Carmichael project.

2016

2016-12-22 00:00:00 | Indian agencies investigate Adani

Adani Enterprises is one of several coal companies under investigation by India’s Directorate of Revenue Intelligence (DRI) for inflating the cost of imported coal. For a decade, the DRI has been investigating Adani entities that traded in diamonds and gold jewellery. Adani Enterprises was named in a 2011 report by Karnataka’s state ombudsman, after documents seized by police allegedly “indicate that money has been regularly paid to port authorities, customs authorities, [the] police department, mines and geology and even to MLAs/MPs.” Adani has rejected the allegations.

2016-04-03 00:00:00 | Queensland approves mining leases for Carmichael project

The Queensland government has approved the mining leases for Adani’s Carmichael coal mine project. Adani says a Final Investment Decision will not be made until court challenges against the project are resolved.

2016-02-04 00:00:00 | Adani freezes investment in Carmichael mine until world coal price recovers

Adani has frozen its investment in Australia's largest proposed coal mine until world coal prices show a clear recovery. Executives indicated the move in Indian stock analyst briefings, which has spurred speculation that Adani might abandon the Carmichael coal mine as the company moves into solar energy.

2016-02-02 00:00:00 | Adani's Carmichael mine gains final environmental approval

Adani's Carmichael coal mine has received its final environmental approval from the Queensland government. The project still requires a mining lease and bank funding before it can proceed.

2015

2015-10-16 00:00:00 | Carmichael coal mine granted ‘re-approval’ by Australian government

The Indian mining giant Adani has received a "re-approval" from the Australian government for its controversial Carmichael coal project. The offer has 36 environmental conditions however, which Australia’s environment minister Greg Hunt describes as the "toughest in the country's history".

2015-08-05 00:00:00 | Adani loses federal approval for Carmichael coal project

Australia’s federal court has ruled in favour of a legal challenge to Adani by the Mackay Conservation Group. The group says the rejection of Adani’s under-construction Carmichael mine is “a victory for land and water, biodiversity, the global climate and also for common sense”.

2015-03-26 00:00:00 | Galilee Basin’s traditional land owners reject Adani agreement

The Wangan and Jagalingou people, who are considered the traditional owners of the land in the Galilee Basin, have rejected an Indigenous Land Use Agreement with Adani. Adani is planning to build the Carmichael coal mine project on their land.

2014

2014-07-28 00:00:00 | Australia’s federal government approves Carmichael mine

Australia’s environment minister Greg Hunt has approved the Carmichael coal mine and rail project. The Mackay Conservation Group says Hunt has incorrectly assessed the mine’s impact on both climate change and two vulnerable local species.

2014-05-08 00:00:00 | Queensland approves Carmichael mine

Queensland's coordinator general has approved the state’s Carmichael coal project. Subject to 190 construction and operation conditions, the approval pays particular attention to groundwaters and water bores that may be impacted by the mine.

2014-05-06 00:00:00 | IEEFA report finds Carmichael coal exports financially unviable

The Australasia Institute for Energy Economics and Financial Analysis has published a report that casts doubt on claims that the Carmichael coal mine project will alleviate India's energy poverty. The report finds that in order to be financially viable, coal exported from Australia’s Galilee Basin to India would need a wholesale electricity price that is double India's current level.

2013

2013-11-22 00:00:00 | Queensland invites comments on Carmichael mine

Queensland’s coordinator general, Barry Broe, has invited Queensland state agencies and community members to submit comments on the proposed AUD 16.5 billion Carmichael coal mine and rail project.

2010

2010-11-24 00:00:00 | Adani begins approval process for two Australian mines

Adani has begun the approval process to establish two new mines (including the Carmichael coal mine) and a rail line in Australia’s Galilee Basin. The Queensland premier Anna Bligh has designated the proposed Carmichael coal mine and rail facility as a “Significant Project”.

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