Adani Enterprises Faces Delays for Australian Coal Project

Reuters reported today that Australian Environment Minister Greg Hunt has delayed his decision on Adani Enterprises Ltd.’s (NSE:ADANIENT) $15 coal project to August 1st. The project would require a controversial port expansion near Australia’s great barrier reef, and the delay comes as legal challenges against the port continue, according to Reuters.

As quoted in the publication:

The port that Adani plans to use, Abbot Point, is facing a legal challenge from green groups fighting an expansion that will dredge up 3 million cubic metres of sand to be dumped near the Great Barrier Reef. The government’s move to postpone a decision on the Carmichael project comes just as UNESCO’s World Heritage Committee is due to consider a proposal to vote next year on putting the Great Barrier Reef on the “in danger” list.

Click here to read the full Reuters article.