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

Related Stories

Gold Stories

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 86574 75330

Join us Telegram

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back