SYDNEY (Reuters) – India’s Adani Enterprises has appointed corporate finance firm Grant Samuel to advise on funding for its multi-billion dollar coal mine in the Australian outback, two sources with knowledge of the matter said on Thursday.
Analysts have raised doubts about whether Adani can fund what would be Australia’s biggest coal mine given opposition from green groups and volatile coal prices.
Banks - Deutsche - Bank - Commonwealth - Bank
Banks including Deutsche Bank and Commonwealth Bank of Australia have already said they will not provide funding.
“Adani has mandated Grant Samuel to advise on the financing,” one of the sources said. Both sources asked not to be identified as they were not authorized to speak with media.
Grant - Samuel - Funding - Carmichael - Mine
Grant Samuel declined to comment on whether it had been appointed to advise on funding for the Carmichael mine, which Adani had originally planned to develop at a cost of A$16.5 billion ($13 billion), before last year downsizing the first stage and trimming the cost to A$4 billion.
Adani spokesman Ron Watson declined to comment on the appointment of Grant Samuel, but said it now needed to borrow under A$2 billion to...
Wake Up To Breaking News!