The group’s Australian business arm Bravus Mining & Resources on Thursday said it has exposed the first of the coal seams for mining at the Carmichael mine in Australia’s Queensland province.
India will be a ‘foundation customer’ for Carmichael coal and Bravus has already secured the market for 10 million tonnes per annum production, agencies quoted company CEO David Boshoff as saying.
“The coal will be sold at index pricing and we will not be engaging in transfer pricing practices, which means that all of our taxes and royalties will be paid here in Australia. India gets the energy they need and Australia gets the jobs and economic benefits in the process,” Boshoff was quoted as saying.
Carmichael coal will contribute to the Adani group’s burgeoning energy portfolio that is designed to create a sustainable energy mix, incorporating, thermal power, solar power, wind power and gas.