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Queensland, Adani Group to Ink $10B Coal Mine Deal

Australian Resource Minister Martin Ferguson and Queensland Premier Campbell Newman are in India to sign a $10-billion agreement with the Indian company, The Adani Group, to develop a coal mining project in the Galilee basin.

The signing of the deal will follow the completion by The Adani Group of a comprehensive geotechnical field investigation at Carmichael Mine which estimated potential output at 10 billion tonnes, making it the largest coal tenement in the world.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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