Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Adani Commits to A$6.9 Billion Queensland Coal Mine

Adani Enterprises Ltd., India’s biggest coal importer, said it’s committed to a A$6.9 billion ($6.8 billion) coal project in Queensland state that will be Australia’s biggest mine producing the fuel.

“This investment has unlocked the enormous potential of what were once unviable resources,” Gautam Adani, executive chairman of the Gujarat-based company, said in an e-mailed statement.

Adani in August bought the coal asset for A$3 billion in cash and royalties from Linc Energy Ltd., making it the largest acquisition by an Indian company in Australia. The company is targeting first coal output by the end of 2014 and production of 50 million tons to 60 million tons by 2022.

India’s thermal-coal imports almost doubled to 60 million tons last year as the nation increased electricity generation capacity to end blackouts and sustain an economy forecast to grow more than 9 percent this fiscal year. India’s economy has expanded by an annual average of 8.4 percent since 2004, straining transport, energy and manufacturing capacity.

The project in Queensland’s Galilee basin comprises mine, rail and port construction and is set to create between 4,000 to 5,000 jobs during construction and production, Adani said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.