Billionaire pushes ahead with controversial coal mine
New Delhi (CNN Business)One of India’s richest men is pushing ahead with a controversial coal mine in Australia, but the project will be scaled back after plans for state subsidies were dropped following huge protests.
The Adani Group, owned by billionaire Gautam Adani, said Thursday that its Carmichael mine in Queensland state will be “100% financed” through its own resources.
Construction of the project, which has been repeatedly delayed by protests from politicians and environmentalists, can now begin, Adani’s mining chief Lucas Dow said.
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