Legal Fight, Delays Force Adani Writedowns on Carmichael Coal

Indian firm takes $13 million impairment on Australian project
First production from thermal coal project planned for 2021

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By Perry Williams and Rajesh Kumar Singh

May 11, 2018 at 4:12 AM UTC

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Indian conglomerate Adani Enterprises Ltd. has taken a 896.4 million rupees ($13.3 million) writedown on its Carmichael coal mine in Australia’s Queensland state due to delays and legal challenges.

The impairment charge was booked by its Australian unit Adani Mining Pty in the quarter ended March 31, Adani Enterprises said in a stock exchange filing Thursday in Mumbai.