Adani losses prompt mining company to shift away from imported coal

Results show Carmichael mine in Queensland no longer a viable proposition, analysts sayo Sign up to receive the top stories from Guardian Australia every morningAdani's coal-fired power business has reported more heavy losses, prompting the Indian conglomerate to announce it would shift away from using expensive imported coal.Analysts say the fourth-quarter financial results for Adani Power, a subsidiary of the Adani group, showed the proposed Carmichael mega-mine in Queensland was no longer a viable proposition. Continue reading...