Adani tells analyst Carmichael coal on backburner: On the same day the Queensland Government granted environmental approval for Adani’s Carmichael mine an analyst from Axis Capital was told by the company that further investment in the project would be “dependent on visibility of revival in global coal prices.” The analyst was told there would be no capital expenditure on the project in the next financial year. The analyst included a stock price estimate based on a scenario in which Adani’s investment in the mine was written off. (Guardian, RenewEconomy)
India approves major mine expansion, despite pollution: Despite ongoing controversy over air and water pollution the Ministry of Environment and Forests (MoEF) has approved a 7.25 million tonnes per annum (Mtpa) expansion of South Eastern Coalfields Ltd (SECL) Kusmunda mine in Chhattisgarh. SECL, a Coal India subsidiary, had sought permission to expand the mine to 50 Mtpa but MoEF has conditionally approved the first phase of the expansion. MoEF has left open the option for further expansion. Coal India is seeking to increase production from about 550 million tonnes this year to 1 billion tonnes by 2020. (Moneycontrol)
Duke Energy fined for US coal ash disaster: North Carolina environmental regulators have fined Duke Energy US$6.6 million over the collapse of a coal ash dam at a disused power station. The dam spilled 35,000 tonnes of coal ash and over 100 million litres of contaminated water into the Dan River. The Southern Environmental Law Center said despite the fine, coal ash continued to be stored in 32 unlined ponds at 14 current or closed power plants in the state. (WRAL.com, ClimateProgress) |