Adani Mining to self-finance Carmichael project in Australia

Indian company Adani Mining has announced that its Carmichael mine and rail project in central Queensland, Australia is set to begin operations and will be completely financed through the company’s resources.

The latest announcement follows changes that were made recently to simplify construction and reduce the initial capital requirements for the scaled-back project, which was once priced at $16.5bn.

Prior to this, the company carried out planning for a period of eight years, secured the necessary approvals and successfully contested legal challenges from anti-mining activists with regard to the project.

Adani Mining CEO Lucas Dow said: “Our work in recent months has culminated in Adani Group’s approval of the revised project plan that de-risks the initial stage of the Carmichael mine and rail project by adopting a narrow gauge rail solution combined with a reduced ramp up volume for the mine.

“This means we’ve minimised our execution risk and initial capital outlay. The sharpening of the mine plan has kept operating costs to a minimum and ensures the project remains within the first quartile of the global cost curve.”

During the initial ramp-up phase, all coal produced will be consumed by the group’s captive requirements.

The company now plans to start development of a smaller open cut mine and will increase production over time to 27.5mtpa.

Adani will also start the construction for the shorter narrow gauge rail line to match the production schedule.

“We expect that Adani Mining will be treated no differently than any other Queensland mining company.”

The Carmichael project, which faced delays due to several reasons, is set to deliver more than 1,500 direct jobs during the initial ramp-up and construction phase.

Currently, preparatory works at the mine site are set to take place. Working with regulators, Adani will finalise the remaining required management plans ahead of coal production.

Dow further added: “Given we meet the same environmental standards and operate under the same regulations as other miners, we expect that Adani Mining will be treated no differently than any other Queensland mining company.”

The post Adani Mining to self-finance Carmichael project in Australia appeared first on Mining Technology | Mining News and Views Updated Daily.



from Mining Technology | Mining News and Views Updated Daily https://ift.tt/2P8gRhv

Comments

Post a Comment

Popular posts from this blog

Mine management and predictive maintenance are top priorities for miners

Image
While miners are starting to trial and make small investments in technologies such as augmented reality (AR), virtual reality (VR) and cloud computing, the traditionally conservative mining sector remains focused on improving efficiency and productivity by continuing to invest in mine management software and predictive maintenance. GlobalData’s latest report, Global Mine-Site Technology Adoption Survey 2018 , reveals that while investment by the majors is currently well ahead of mid-tier miners and producing juniors, higher shares of the latter two groups are planning investments in mine management software and predictive maintenance given their immediate impact on improving productivity. Source: GlobalData Mining Intelligence Center The report includes data and analysis from the company’s survey of over 200 worldwide mine sites which investigated the extent to which mines had invested in 13 different technologies ranging from communication systems to drones, predictive maintenance
Read more

Down with the kids: can mining ever be cool?

“Do you want to win a bucket load of cash? Of course you do!” is the eye-catching strapline of the Mining Association of Nova Scotia’s (MANS) annual Mining ROCKS! contest. It offers cash prizes totalling C$8,000 for junior high and high school students who produce the most interesting and engaging videos about mining across five categories. Held between October 2018 and 22 February 2019, the contest hopes to inspire young people to teach themselves about the mining industry in Canada and beyond. Sean Kirby, executive director of MANS, says the association launched the competition because the industry needs to do better at explaining itself to the public and, in particular, reaching out to young people to educate them about mining, minerals and geoscience. “We started the Mining ROCKS! video contest as a way to appeal to young people, to give them a reason to want to learn about what we do by doing their own research,” he says. Attracting the next generation of miners Ingratiating
Read more

GR Engineering wins OZ Minerals Northern Wellfield project contract

OZ Minerals has awarded a contract to GR Engineering Services for the design and construction of the Northern Wellfield for the Carrapateena project located approximately 160km north of Port Augusta in South Australia. The engineering, procurement and construction contract is valued at A$16.3m ($11.77m). For the Northern Wellfield project, GR Engineering will provide the detailed design, survey, supply, transportation, construction, testing and commissioning services for the development of the trunkline and transfer pumping stations associated with four wells. The Carrapateena mineral processing plant, which is currently under construction, will obtain water through the wellfield project. The Northern Wellfield project will include access roads, pipeline corridors, staging tanks, wellheads and pumps to source groundwater from deep underground aquifers for providing raw saline water to the mining operations. “This work demonstrates GR Engineering’s credentials in the supply of proc
Read more