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Bravus rejects claims it plans to use coal to make plastic

Business

Bravus Mining is playing down revelations that coal from Australia will be used to create plastics in a $US4 billion project in India.

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The company, a subsidiary of Adani Australia, has denied claims emanating from India about its potential role in the plastics project and said reports were inaccurate.

But a document from the Adani Group in India, published this morning by The Guardian, said that total coal required for the coke plant would be 3.1 million tonnes a year “which will be imported coal mainly from Australia, Russia and other countries”.

The document does not specifically say the coal would come from the Carmichael coal mine which is under development in central Queensland and expected to produce its first coal next year. Carmichael is scheduled to produce 10 million tonnes a year, which has already been fully contracted.

This morning the company said the Adani Group “has never made any formal statements about Carmichael coal ever being used for this”.

“India will be a foundation customer for the Carmichael project and is the fourth largest global user of electricity as well as the source of the biggest growth in global energy demand,” a Bravus spokeswoman said.

“We have already secured the market for the 10 million tonne per annum of coal produced at the Carmichael Mine. The coal will be sold at index pricing and we will not be engaging in transfer pricing practices, which means that all of our taxes and royalties will be paid here in Australia.”

Reports out of India said the plan was for Adani Group plans to build a 2m tonne a year coal-to-polyvinyl chloride (PVC) plant at Mundra in the western Gujarat state.

Adani Enterprises Ltd (AEL) the flagship company of this group will execute the coal-to-PVC complex, the company said in its submission to the Ministry of Environment, Forests & Climate Change dated April 2021.

The company expects to bring the project on stream within four years of receiving all the necessary approvals,

 

 

 

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