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

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000