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Australia's controversial new Adani coal mine has claimed victory over environmental activists, while announcing on Friday that the project had brought more than 1,500 jobs to the state of Queensland during its construction. After a nearly decade-long battle between the Indian-owned company and those determined to put a stop to it, Adani Mining Chief Executive David Boshoff said the coal mine would go ahead whether they like it or not, reports Xinhua news agency. "The 'Stop Adani' movement said our project would never go ahead and would never create a single job. We have proved our opponents wrong," Boshoff said. While construction is still underway on the project which includes a purpose built rail line, dam and airfield, Boshoff said the temporary jobs involved were vital to sustaining the economy through Covid-19. "Mining has cushioned the Queensland and Western Australian economies from the worst of the devastating economic impact of the Covid-19 lockdowns and we are proud to be a part of that," he said. The Stop Adani movement became a household name both in Australia and abroad, due to the mine's planning and construction taking place against a backdrop of rising climate change concern. Additionally the project's proximity to Australia's treasured Great Barrier Reef means it will drive an increase in shipping traffic through the already sensitive area. According to the activist group, coal extracted by the mine, most of which will go to India, will contribute 4.6 billion tonnes of carbon pollution to the atmosphere. "We are looking forward to the day next year when we can celebrate our success with our Queensland partners and employees, while watching the first shipment of coal being exported. Until then, it remains full speed ahead on construction," Boshoff said.

Australia's controversial Adani coal mine says it has proved environmentalists wrong by creating over 1,500 jobs

Just six weeks after the <keyword id="12430412" type="General" weightage="20" keywordseo="glasgow-climate-summit" source="Orion">Glasgow climate summit</keyword> (<keyword id="8557638" type="General" weightage="20" keywordseo="cop26" source="Orion">COP26</keyword>), where the world agreed to phase down coal, Australia is opening the world's biggest new coal basin, the <keyword id="948066" type="General" weightage="20" keywordseo="galilee-basin" source="Orion">Galilee Basin</keyword> in Queensland. Coal giant <keyword id="76451" type="General" weightage="20" keywordseo="adani" source="Orion">Adani</keyword> is commencing its first exports of coal from the Carmichael mine. Adani says the first coal for export is "being assembled" at its coal port in Bowen, the North Queensland Export Terminal. Adani plans for the mine to be Australia's biggest, but has faced 10 years of opposition from Wangan and Jagalingou traditional owners and climate campaigners. Responding to the development, Joseph Sikulu, 350.org Pacific Coordinator, recently returned from COP26, says: "Just last month I was at the Glasgow climate summit when global governments pledged to phase down coal. Adani is doing the opposite of this agreement. "Adani and the governments who enabled them are throwing a wrecking ball at global efforts to protect the Pacific from the impacts of climate change. But we won't let them, we stand in solidarity with the Wangan and Jagalingou people. "We are in the fight of our lives to stop dangerous climate change. We simply cannot afford for Adani's mine to expand to 60 million tonnes per year. We will fight to keep every single tonne of coal in the ground where it belongs." Julien Vincent, Executive Director of Market Forces said: "People power has kept tens of millions of tonnes of Adani's coal in the ground. We'll keep fighting to prevent as much climate-wrecking coal from being mined and burned by Adani as we can. "At this point in the climate crisis, every tonne of coal counts if we are to avoid catastrophic climate impacts like mega fires and superstorms. Adani plans to pour fuel on the fire, continuing to build the Carmichael mine to be Australia's biggest, as well as new coal mines and plants overseas. "We're so close to denying Adani a critical source of finance it needs to be able to keep running the Carmichael mine: insurance. Over 100 companies have walked away from this disastrous project so far. If we keep pushing, we can stop it, permanently." On opposition to Adani's mine, Adrian Burragubba, Senior Elder and spokesperson for the Nagana Yarrbayn, Wangan and Jagalingou Cultural Custodians, said: "Wangan and Jagalinagou people first said no to Adani's mine in 2012, and we continue to say no. Adani has never had free prior and informed consent from the Wangan and Jagalingou people. "We will continue to resist Adani's coal mine, practice our culture, and assert our human rights as the first nations people of this country. We are not going away: this is our land and we have human rights." Wangan and Jagalingou people have been conducting the cultural ceremony Waddananggu for over 120 days on Wangan and Jagalingou country and Adani's mining lease. "This Ceremony will continue and our Human Rights to practice ceremony on the country must be respected," Burragubba added. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-sun-pharma-dr-reddys-and-other-hot-stocks-to-watch-out-for-on-december-29/slidelist/88556621.cms" data-type="tilCustomLink">Reliance Industries, Sun Pharma, Dr Reddy’s and other hot stocks to watch out for on December 29</a> <a href="https://www.businessinsider.in/business/startups/news/nykaa-zomato-paytm-oyo-and-policybazaar-made-their-employees-millionaires/slidelist/88552831.cms" data-type="tilCustomLink">19 people who became millionaires by working for Indian tech startups</a> <a href="https://www.businessinsider.in/finance/banks/news/there-is-a-small-pool-of-hope-amid-all-the-fear-around-rbl-bank/articleshow/88538626.cms" data-type="tilCustomLink">There is a small pool of hope amid all the fear around RBL Bank</a>

Adani is commencing its first exports from world's biggest coal basin despite the protests

<ul><li>Queensland’s Department of Environment and Science gave a go ahead for Adanis to start construction at the Carmichael coal mines.</li><li>The approval has been termed as bad news by environmental groups. </li></ul>After a decade long battle, Gujarat-based <keyword id="6367820" type="ORGANIZATION" weightage="20" keywordseo="adani-group">Adani Group</keyword> finally won the rights to develop its Charmichael coal mine in Queensland, Australia. The controversial coal mine became a hotbed for climate change concerns. But today, Adani <a href="https://www.abc.net.au/news/2019-06-13/adani-carmichael-coal-mine-approved-water-management-galilee/11203208">received</a> a go-ahead from Queensland’s Department of Environment and Science (DES). The approval was holding up the billionaire Gautam Adani-led group from kickstarting construction at the mine. The project to develop the mine also involves building a railway line which will connect the mine to Abbot Point port, aiding exports. This infrastructure is estimated to cost around $3.3 billion. However, there were concerns that the construction would have an adverse impact on the groundwater table. Added to that, the endangered finch bird which is native to the region, could also be affected, according to environmental groups. DES has been <a href="https://www.abc.net.au/news/2019-06-13/adani-carmichael-coal-mine-approved-water-management-galilee/11203208">reviewing</a> Adani’s groundwater management plan for over two years. Eminent scientific bodies like CSIRO (Commonwealth Scientific and Industrial Research Organization) and Geoscience Australia are among those which conducted reviews of the project’s groundwater management plan. Adani acquired the mines in 2010 and they were expected to produce 8-10 million tonnes of thermal coal a year. This coal can be used to generate electricity, though the quality of coal has been described as ‘low’ with high ash content. Not only was the coal mine acquisition controversial due to its claimed economic benefits and financial viability; it also ran into an environmental quagmire. The coal basin is located in a pristine area, and this approval was opposed by green groups who believe that it can affect the Great Barrier Reef. It is also believed to deplete the groundwater at its site and the carbon emissions will not help the delicate balance of the area either. The <a href="https://in.reuters.com/article/australia-coal-adani-ent/adani-wins-green-light-for-long-awaited-australian-coal-mine-idINKCN1TE0C0">approval</a> has been described as “bad news” by the Australian Marine Conservation Society.

Australia allows India's Adani Group to start construction at the Carmichael mine

<keyword id="76451" type="COMPANY" weightage="100" keywordseo="Adani">Adani</keyword>'s $21.7 billion coal mine project in <keyword id="6355478" type="COUNTRY" weightage="100" keywordseo="Australia">Australia</keyword> was being targeted by a "foreign funded, highly orchestrated" group which influenced the traditional land owners and legal environmental challenges' to stop it, a new set of emails released by <keyword id="6409883" type="PERSON" weightage="20" keywordseo="wikileaks">WikiLeaks</keyword> has said. 
 According to news agency, in a series of emails, it has been disclosed that the <keyword id="3774525" type="UNKNOWN" weightage="20" keywordseo="us-based-sandler-foundation">US-based Sandler Foundation</keyword> funded Australia-based environmentalist group, the Sunrise Project, which offered "Wangan and Jagalingou people" financial support and scholarships if they opposed Adani's mine project and also boasted of its attempts to hide its funding sources from Australian parliament, according to 'The Australian' newspaper today. 
 According to report, the previously secret briefings as part of <keyword id="3043" type="PERSON" weightage="20" keywordseo="Hillary-Clinton">Hillary Clinton</keyword>'s campaign chairman <keyword id="1246082" type="PERSON" weightage="20" keywordseo="John-Podesta">John Podesta</keyword>'s emails, said Sunrise tailored its advice to indigenous communities in northern <keyword id="88075" type="COMPANY" weightage="20" keywordseo="Queensland">Queensland</keyword>, and that the "whole <keyword id="948066" type="UNKNOWN" weightage="20" keywordseo="Galilee-Basin">Galilee Basin</keyword> fossil fuel industrial complex is in its death throes". 
 It was also disclosed that an associated group, <keyword id="59430" type="ORGANIZATION" weightage="20" keywordseo="Human-Rights-Watch">Human Rights Watch</keyword>, offered to help Sunrise Project by keep its tax-exempt charity status because "the mining companies seem to own the Liberals (in Australia) and they play very dirty". 
 Human Rights Watch chief executive <keyword id="3774533" type="UNKNOWN" weightage="20" keywordseo="ken-roth">Ken Roth</keyword> further disclosed that his group received "charitable status by special parliamentary bill" in the "waning days of the <keyword id="6451308" type="ORGANIZATION" weightage="20" keywordseo="Labor">Labor</keyword> government". 
 In an email to <keyword id="3774528" type="ORGANIZATION" weightage="20" keywordseo="sandler-foundation">Sandler Foundation</keyword> last August after a decision against the Adani mine, Sunrise Project director <keyword id="3774534" type="UNKNOWN" weightage="20" keywordseo="john-hepburn">John Hepburn</keyword>, who is said to be the author of the strategy to block the mine, thanked the <keyword id="142144" type="CITY" weightage="20" keywordseo="Foundation">Foundation</keyword> for its support and wrote 'without your support none of this would have happened". 
 He wrote that he was going to buy a "few bottles of bubbly" for a celebration with "our colleagues at GetUp!!!!, <keyword id="69355" type="ORGANIZATION" weightage="20" keywordseo="Greenpeace">Greenpeace</keyword>, 350.org, Australian Youth Climate Coalition, Mackay Conservation Group, Market Forces and the brilliant and tireless Sunrise team". 
 <keyword id="657018" type="PERSON" weightage="20" keywordseo="Hepburn">Hepburn</keyword>'s email to the Foundation also mocked the coal industry for the claim "there is some kind of foreign-funded and tightly orchestrated conspiracy to systemically destroy the Australian coal industry". 
 Reacting to the latest disclosure, <keyword id="1057128" type="UNKNOWN" weightage="20" keywordseo="Adani-Australia">Adani Australia</keyword> chief executive <keyword id="2241514" type="UNKNOWN" weightage="20" keywordseo="Jeyakumar-Janakaraj">Jeyakumar Janakaraj</keyword> said the leaked emails were "evidence that these are broader well-funded activist campaigns as part of a wider anti-coal campaign that is being financially backed and influenced a long way from workers in Australia and those suffering energy poverty in India". 
 
"The leaks show, however, that the anti-coal campaign is not about the merits of the approval process at all; it's about activists motivated to stop jobs and investment,"he said. 
 The latest disclosure came days after the Queensland development minister <keyword id="2782550" type="UNKNOWN" weightage="20" keywordseo="Anthony-Lynham">Anthony Lynham</keyword> announced that the state government had invoked special powers to ensure the controversial <keyword id="110855" type="PERSON" weightage="20" keywordseo="Carmichael">Carmichael</keyword> coal and rail project starts next year. 
 
The project is now in its seventh year of the environmental approval process.

Adani's $21.7 billion coal mine
project in Australia is targeted by a "foreign funded” groups

Notwithstanding a sharp decline in coal prices, <keyword id="76451" type="COMPANY" weightage="100" keywordseo="Adani">Adani</keyword> Enterprises is going ahead with its plan to build <keyword id="6355478" type="COUNTRY" weightage="60" keywordseo="Australia">Australia</keyword>'s biggest coal mine in the next three years. It has stepped up its effort in the wake of Prime Minister <keyword id="6354477" type="PERSON" weightage="60" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s Australia visit. 
 
The state government of Queensland has said that Adani may announce the project when Prime Minister Modi visits the country next week. 
 
However, according to experts, Adani might have taken the issue of raising funds for the $7-billion mine lightly. Experts believe that the target of opening a mine in 2017 is highly aggressive as there is no debt funding. Moreover, there is uncertainty over growth in demand for coal in India. 
 
"On a standalone basis, the economics just don't stack up – I'm talking about costs and return on capital. You'd need a price of about $100-$110 a tonne for it to stack up," said Daniel Morgan, global commodities analyst at UBS.

Adani Steps Up Effort For Australian Coal Project

<keyword id="1575" type="ORGANIZATION" weightage="60" keywordseo="Congress">Congress</keyword> has demanded explanation from the Centre and the State Bank of India (<keyword id="13222" type="CITY" weightage="100" keywordseo="SBI">SBI</keyword>) over the latter’s decision to lend $1 billion to the <keyword id="76451" type="COMPANY" weightage="100" keywordseo="Adani">Adani</keyword> group. It also accused Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> of “taking interest in promoting the Adani group" and demanded that SBI should make disclose the MoU it had signed with the Adani group. 
 
SBI had announced a loan of up to $1 billion to Adani for developing a coal mine during Modi's Australia visit. 
 "What was the propriety of SBI giving loan to Adani, who was sitting next to the Prime Minister during the visit, at a time when five foreign banks have denied credit to the group for the project?" Congress General Secretary <keyword id="50339" type="PERSON" weightage="100" keywordseo="Ajay-Maken">Ajay Maken</keyword> questioned. 
 
"The PM appeared taking keen interest in promoting Adani in getting the loan worth Rs 6,200 crore during the visit in which the SBI chairman was also present. When five top foreign banks have declined to fund Adani's project, what was the need and the sense in giving such a huge loan to him from the hard-earned money deposited by the common people? Did SBI do the due diligence? If it did so why it is not declaring the MoU?” asked Maken. 
 
Adani, however, denied the charges. “There are already a couple of international banks which have funded our acquisition of mines in Australia. I don't think it is for public consumption for us to tell which banks are currently considering the project in different stages of approval. SBI would not certainly be just one bank when it comes to final financial closure of this project and you will see a very impressive list of international banks that are going to fund the project,” it said.

Congress Attacks SBI For $1-billion Loan; Alleges A Nexus Between Modi And
Adani

<keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>'s Australian mining division Bravus Mining &amp; Resources has struck coal in the much controversial Charmichael project in Queensland. <keyword id="10224761" type="COMPANY" weightage="20" keywordseo="bravus-mining-and-resources">Bravus Mining and Resources</keyword> CEO David Boshoff noted that it was an exciting day for the over 2,600 people on the Project; a day that has been in the making for over a decade. "Nearly two years ago today we received our final approvals to develop the Carmichael mine and rail Project. We have faced many hurdles along the way, but thanks to the hard work and perseverance of our team, we have now reached the coal seams," the CEO said. Boshoff said Bravus was on track to export first coal as promised, in 2021. "We're on track to export first coal this year, and despite reaching this significant milestone, we will not take our eyes off our larger goal of getting coal to market," he said. Taking to Twitter, <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, Chairman of Adani Group said: "Proud of my tenacious team who mined Carmichael's 'first coal' in the face of heavy odds. There couldn't be a better birthday gift than being able to strengthen our nation's energy security and provide affordable power to <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s millions. Thank you, Queensland and <keyword id="6355478" type="LOCATION" weightage="20" keywordseo="australia">Australia</keyword>." As per the company, India will be a foundation customer for the Carmichael mine and is the fourth largest global user of electricity as well as the source of the biggest growth in global energy demand. The mine has been at the centre of several protests and campaigns by environmentalists. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/heres-how-chinas-2021-crypto-crackdown-in-2021-differs-from-the-2017-ban/articleshow/83802778.cms">Here’s how China’s 2021 crypto crackdown in 2021 differs from the 2017 ban</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-is-seeking-a-8-billion-valuation-in-its-ipo-does-it-make-sense/articleshow/83801848.cms">There are a few reasons why Zomato wants $8 billion valuation from its IPO -- here's a look at if it makes sense</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musks-tesla-may-have-lost-90-million-in-the-recent-crypto-crash/articleshow/83773974.cms">Bitcoin's dip to below $30,000 has Tesla sitting on a loss of $90 million even if the price recovers</a> <a href="https://www.businessinsider.in/india/faqs/delta-plus-variant-of-covid-19-all-you-need-to-know-about-this-variant/articleshow/83770735.cms">Delta Plus: All you need to know to need to know about the new Coronavirus variant</a>

Adani Group's Bravus Mining and Resources strikes coal at Australia's Charmichael project in Queensland

New Delhi, Feb 5 () Adani Enterprises Ltd (AEL) on Wednesday said its net profit rose over fourfold to Rs 382.98 crore in the December 2019 quarter, helped by higher income. The Adani Group's flagship firm had clocked a net profit of Rs 80.09 crore during the year-ago quarter, AEL said in a BSE filing. Its total income during the October-December 2019 period was Rs 11,075.32 crore, higher from Rs 10,548.14 crore in the year-ago period. The company's expenses were Rs 10,635.16 crore, compared with Rs 10,443.76 crore a year ago. In a statement, Adani Group Chairman Gautam Adani said, "We at Adani Enterprises continue to focus on incubating assets in the transportation and utilities space. These new India-centric businesses will be instrumental in the economic growth of the country. At the same time, it will endorse our work and take the benefits to masses." In the mining services business, production volume at the Parsa Kente coal mine in Chhattisgarh increased 26 per cent to 4.71 million tonnes (MT) as against 3.74 MT in the third quarter of 2018-19. During the quarter, the coal production at Gare Pelma III mine in Chhattisgarh was commenced with a volume of 0.06 MT. In solar manufacturing, the company has established India's largest solar cell and module manufacturing unit in Mundra SEZ. The plant has an installed capacity of 1.2 gigawatt (GW) fully integrated cell and module manufacturing unit. In the third quarter of 2021-20, volume witnessed a strong growth of 102 per cent to 283 megawatt (MW) modules as against 140 MW modules in the year-ago quarter. In the food business, the company has maintained its leadership position with its Fortune brand and continues to lead the refined edible oil market with more than 20 per cent market share. ABI ABI HRS

Adani Enterprises net profit surges to Rs 383 cr in Dec quarter

<ul class="summary-list"><li><keyword id="12173789" type="UNKNOWN" weightage="60" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>'s wealth exceeded $100 billion for the first time on April 1, 2022, according to <keyword id="12259015" type="UNKNOWN" weightage="60" keywordseo="bloomberg" source="Orion">Bloomberg</keyword>'s <keyword id="11940268" type="UNKNOWN" weightage="60" keywordseo="billionaires" source="Orion">Billionaires</keyword> Index.</li><li>Adani founded Adani Group, which works across sectors including energy, mining, and port management.</li></ul>Indian industrialist <a href="https://www.businessinsider.com/asias-richest-gautam-adani-kidnapping-mumbai-terrorist-college-dropout-2021-11?r=US&amp;IR=T">Gautam Adani</a>'s wealth has just soared to $122 billion, pushing him past other centibillionaires including Warren Buffett and Larry Page.He's now the fifth richest person in the world.Adani was worth around $10 billion in June 2020, after which his wealth began to soar, data from the <a href="https://www.bloomberg.com/billionaires/profiles/gautam-s-adani/?sref=lAVQtUwz">Bloomberg Billionaires Index</a> shows. He's already added $28 billion so far in 2022, and breached the $100 billion threshold in early April, per Bloomberg's index.Adani is founder and chairman of the Adani Group, a multinational conglomerate with <a href="https://www.adani.com/businesses">businesses</a> spanning energy, mining, port management, and airport operations. Among other things, Adani Group owns <a href="https://www.adaniports.com/Ports-and-Terminals/Mundra-Port">India's largest commercial port</a> and has a <a href="https://timesofindia.indiatimes.com/business/india-business/adani-group-takes-over-mumbai-airport/articleshow/84380085.cms">74% stake in Mumbai's international airport</a>.Bloomberg did not provide an underlying explanation for the increase in Adani's wealth but many of the group's businesses have seen their share prices soar since mid-March. According to <a href="https://www.bloomberg.com/news/articles/2022-04-01/adani-joins-musk-bezos-in-exclusive-100-billion-club?sref=lAVQtUwz">Bloomberg</a>, Adani has focused on areas that are key to meeting Indian Prime Minister Narendra Modi's economic goals.<h2>From diamond sorter to owner of a multinational conglomerate</h2>Adani was born in Ahmedabad, in the Indian state of Gujarat, in 1962. He dropped out of Gujarat University after his second year studying commerce, according to <a href="https://www.siliconindia.com/news/success-stories/gautam-adani-from-a-college-dropout-to-billionaire-industrialist-nid-210122-cid-80.html">Silicon India</a>. He then turned to the diamond industry, first as a sorter and then as a trader in Mumbai, the publication reported.After his brother purchased a plastic company, Adani joined him in the management of the business and started importing PVC, <a href="https://www.bloomberg.com/billionaires/profiles/gautam-s-adani/?sref=lAVQtUwz">per Bloomberg</a>. In <a href="https://www.bloomberg.com/billionaires/profiles/gautam-s-adani/?sref=lAVQtUwz">1988</a>, Adani set up Adani Enterprises.Adani said he and a companion were kidnapped in 1998 after a group of men held them at gunpoint. A police report said the kidnappers demanded a $2 million ransom and released the pair after the ransom was paid, per <a href="https://indianexpress.com/article/cities/ahmedabad/two-accused-of-abducting-gautam-adani-20-years-ago-acquitted-5473592/">The Indian Express</a>. Eight people accused of the kidnapping were ultimately acquitted, <a href="https://www.timesnownews.com/business-economy/companies/article/throwback-when-indias-fifth-richest-man-survived-a-kidnapping-and-terrorist-attack/606122">Times Now India</a> reported.Adani was dining at the Taj Mahal Hotel during the <a href="https://www.bbc.com/news/world-asia-india-46314555">2008 Mumbai terrorist attacks</a>. He told <a href="https://www.indiatoday.in/latest-headlines/story/gautam-adani-mallika-sarabhai-escape-after-close-encounter-with-death-34159-2008-11-28">India Today </a>that from his table, he could see militants entering the hotel. He said he hid in the hotel's basement before moving to a hallway high up in the building.The Adani Group is made up of six publicly-traded companies. It <a href="https://www.adani.com/About-us">says</a> it has a market capitalization of $222 billion and over 23,000 staff.Adani is an executive director of <a href="https://www.bseindia.com/bseplus/AnnualReport/512599/68600512599.pdf">Adani Enterprises</a> and <a href="https://www.bseindia.com/bseplus/AnnualReport/532921/68598532921.pdf">Adani Port and Special Economic Zone</a>, and a non-executive director of Adani Power, Adani Transmissions, Adani Total Gas, and Adani Green Energy.Most of Adani's wealth is derived from the big shareholdings he has in his companies. According to <a href="https://www.bloomberg.com/news/articles/2022-04-01/adani-joins-musk-bezos-in-exclusive-100-billion-club?srnd=wealth&amp;sref=lAVQtUwz">Bloomberg</a>, he holds 75% stakes in each of Adani Enterprises, Adani Power, and Adani Transmissions. Adani Enterprises' <a href="https://www.google.com/finance/quote/ADANIENT:NSE?window=1Y">share price</a> has almost doubled in the last year while Adani Power's has <a href="https://www.google.com/finance/quote/ADANIPOWER:NSE?window=1Y">tripled</a>.The only people richer than Adani are Tesla and SpaceX CEO Elon Musk, Amazon founder Jeff Bezos, LVMH CEO Bernard Arnault, and Microsoft cofounder Bill Gates, according to Bloomberg's index. Musk is worth $253 billion, per Bloomberg – making him nearly $100 billion richer than Bezos, who's in second place.Adani is the richest Indian on the list, ahead of Mukesh Ambani, whose wealth Bloomberg put at around $103 billion. Ambani is the largest shareholder of Reliance Industries, a multinational conglomerate.

Indian industrialist Gautam Adani is now richer than Warren Buffett and Larry Page

<a href="http://www.businessinsider.in/searchresult.cms?query=Adani+Power">Adani Power</a> is all set to set up a $2.2 billion coal-based <a href="http://www.businessinsider.in/searchresult.cms?query=Power+plant">Power plant</a> in Jharkhand. 
 
The company plans to build two power units with a total capacity of 1,600 megawatts (MW) and construction is expected to begin by December. The electricity from the Jharkhand units would be sold to Bangladesh. 
 
Flagship <a href="http://www.businessinsider.in/searchresult.cms?query=Adani+Enterprises">Adani Enterprises</a> is currently fighting legal challenges to start a $7 billion mine coal near the Great Barrier Reef in Australia. The company wants to take its electricity generation capacity in India to 20,000 MW this decade through <keyword id="45417" type="COMPANY" weightage="40" keywordseo="Adani-Power">Adani Power</keyword>. 
 
An <a href="http://www.businessinsider.in/searchresult.cms?query=Adani+Power">Adani Power</a> spokeswoman did not immediately respond to a request for comment. 
 
Image credit: Indiatimes

Adani Power to build $2 Billion Power Plant in Jharkhan

Adani Enterprises faces another delay in implementing its $15 billion coal mine project in Australia, amid worries that a port expansion to accommodate the project may hurt the world heritage-listed Great Barrier Reef. 
 
Australian Environment Minister Greg Hunt has extended his review of Adani’s A$16.5 billion ($15.5 billion) Carmichael Coal and Rail Project to August 1, a spokesperson for the minister said. 
 
The project in the untapped Galilee Basin, designed to produce 60 million tonnes of thermal coal a year, has been attacked by green groups who are opposed to both new coal mines and the rail lines and ports needed to ship the coal. 
 
Abbot Point, the port that Adani plans to use, is facing a legal challenge from green groups fighting an expansion that will dredge up three million cubic metres of sand. The sand will be dumped near the Great Barrier Reef. 
 
The government’s move to put off a decision on the project comes just as UNESCO’s World Heritage Committee is due to vote on a proposal for putting the Great Barrier Reef in the ‘endangered’ list. 
 
“Approving (the project) now would have been tantamount to an act of provocation, with UNESCO currently mulling the status of Australia’s greatest natural icon,” said Ben Pearson, Greenpeace programme head.

You Searched For "adani mines" and got 11 results

Australia's controversial Adani coal mine says it has proved environmentalists wrong by creating over 1,500 jobs

IANS

Adani is commencing its first exports from world's biggest coal basin despite the protests

IANS

Australia allows India's Adani Group to start construction at the Carmichael mine

BI India Bureau

Adani's $21.7 billion coal mine project in Australia is targeted by a "foreign funded” groups

BI India Bureau

Adani Steps Up Effort For Australian Coal Project

BI India Bureau

Congress Attacks SBI For $1-billion Loan; Alleges A Nexus Between Modi And Adani

Adani Group's Bravus Mining and Resources strikes coal at Australia's Charmichael project in Queensland

IANS

Adani Enterprises net profit surges to Rs 383 cr in Dec quarter

PTI

Indian industrialist Gautam Adani is now richer than Warren Buffett and Larry Page

Grace Dean

Adani Power to build $2 Billion Power Plant in Jharkhan

BI India Bureau

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