Indian mining giant Adani is set to go ahead with a massive coal mine in northeastern Australia. Environmental activists have warned of the danger to the Great Barrier Reef, calling it a “disaster for the climate.”
Indian mining conglomerate Adani has approved plans for the contentious Carmichael coal mine project in northeast Australia, despite warnings from environmentalists that it will further damage the Great Barrier Reef.
“We are still facing activists. But we are committed to this project. We are committed to regional Queensland and we are committed to addressing energy poverty in India,” Chairman Gautam Adani said Tuesday.
Work on the project is expected to begin in September, though the company still needs to secure billons of dollars in funding.
Loans from the Australian government have yet to be approved, and several major Australian banks have ruled out financing.