+
Mining projects financing to boost as Great Barrier Reef recovers
COAL & MINING

Mining projects financing to boost as Great Barrier Reef recovers

With about two-thirds of the Great Barrier Reef in Australia seeing a recovery, recording the highest amount of coral cover in nearly four decades, bank financing for mining projects like Adani Australia and Tata is reportedly expected to revive. Foreign banks earlier had been hesitant to lend to the coal mining projects due to the potential damage to the Great Barrier Reef, a UNESCO-protected area. The site has previously suffered from widespread and severe bleaching because of rising ocean temperatures, reasons that environmentalists had cited to lobby against the coal mining projects in Australia, following which, foreign banks had stopped financing these projects.
Tata Power will import coal worth Rs 140 billion from Indonesian mines this year and owns a 30% stake in the coal mine. Adani Australia has started exporting coal from its Carmichael mine this year onwards.
Also read:

With about two-thirds of the Great Barrier Reef in Australia seeing a recovery, recording the highest amount of coral cover in nearly four decades, bank financing for mining projects like Adani Australia and Tata is reportedly expected to revive. Foreign banks earlier had been hesitant to lend to the coal mining projects due to the potential damage to the Great Barrier Reef, a UNESCO-protected area. The site has previously suffered from widespread and severe bleaching because of rising ocean temperatures, reasons that environmentalists had cited to lobby against the coal mining projects in Australia, following which, foreign banks had stopped financing these projects.Tata Power will import coal worth Rs 140 billion from Indonesian mines this year and owns a 30% stake in the coal mine. Adani Australia has started exporting coal from its Carmichael mine this year onwards.Also read:India Cements fully acquires Springway Mining10 CIL projects get green nod for expansion

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?