Adani Group on Sunday announced the completion of the coal mining exploration programme undertaken by it at the Carmichael mine in the Galillee basin of Queensland, Australia.
The exploration has estimated the coal reserves of up to 10 billion tonnes at the Carmichael mine, the company said. It said that the for single largest and most comprehensive exploration was completed in the time frame of nine months following deployment of a record number of drill rigs.
The company further announced that as part of the mining exploration it had also completed the most comprehensive geotechnical field investigation to define the coal resource at Carmichael Mine, which at ten billion tonnes makes this the largest single coal tenement in the world.
"The Adani Group is thus, now ready to gear up with its $ 10 billion Carmichael Mine project which will include the construction of a world class mine, rail and port infrastructure all benefitting the state of Queensland," a company statement issued on Sunday said.
"Our partnership with Australia and Queensland has been one of exceptional trust, transparency and understanding. Having seen the speed and with the support received to undertake and complete the largest and most ambitious mining exploration programme in record time, I am now certain that Queensland has been the right choice. Australian industry and the Indian corporates like the Adani Group, have some distinctive synergies, which will prove to be of mutual benefit to all in the long run. The Adani Group stands committed to setting up world class infrastructure facilities such as a mine, railway and port in Australia," said Gautam Adani, Chairman of the Adani Group.
The mining exploration programme, that employed more than 200 people both on and off site, has established reserves of up to ten billion tonnes of Joint Ore Reserves Committee’s (JORC) standard Coal Resource, including 3.4 billion tonnes in indicated and measured category in the Galilee Basin Tenement.
The Adani Group has already invested $3 billion in cash in its integrated Australian projects through its subsidiary in Australia Adani Mining Pty and expected to invest $7 billion more over the next few years. The group is operating Abbot Point coal terminal in Queensland which it had acquired in 2011 and is planning to increase its annual capacity to 120 million tonnes per year from current 50 million tonnes.