Cheer up coal miners, India’s got your back
If Australian coal miners need heartening, they should look to the good news coming out of India, which has a rising middle class with critical power needs.
Jeyakumar Janakaraj, CEO and Country Head of Adani Australia, talked about the lift India can provide coal miners while speaking at Austmine Brisbane in February. Adani is developing the Carmichael Mine in the Galilee Basin, as well as investing in the coal terminal at the Port of Abbot Point near Bowen in North Queensland.
Learn how Adani Mining is meeting future energy demand
Janakaraj says India won’t replace China as the next source of huge demand. However, India has a stable democracy, and it’s steady demand is a protection from commodity prices hitting rock bottom. The rising middle class in India is enormous, meaning a lot of people need to be served with power in their homes and places of work.
Janakaraj says Adani is a diverse company. The company does not propagate the value or use of renewable energy over coal or vice versa, but instead feel India needs all available energy sources in order to meet their future energy requirements.
With global coal demand due to nearly triple between 2013 and 2040, according to numbers cited in the International Energy Agency’s World Economic Outlook report in 2015, the Galilee Basin could be a critical part of meeting that demand.
Key Statistics for the Carmichael Project:
- World’s largest single coal tenement and would be Australia’s largest coal mine with the capacity for up to 60Mtpa
- Queensland’s first standard gauge train which will unlock the Galilee Basin with its multi-user plan
- Adani have a 99 year lease on the operational multi-user Terminal 1 at Abbott Point Port with capacity of up to 50Mtpa
- Total project cost (mine, port and rail) estimated to be over $16billion
- Over $3.1billion already invested in Queensland by Adani
The Carmichael Project gained the final environmental approval from the Queensland.
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