Lloyd's insurer Apollo to stop underwriting Adani coal mine from Sep 2021

Lloyd's of London firm Apollo has written insurance for Adani Enterprises' Carmichael thermal coal mine which expires in Sept 2021 but is not planning to provide any further insurance for the mine, according to a memo seen by Reuters.

Carmichael has provoked controversy in Australia because it would open up a new thermal coal basin at a time of growing concerns over global warming, in a region that is in need of jobs.

Adani has begun construction at Carmichael, which will start by producing 10 million tonnes of coal per year together with an associated rail project, and expects first production in