Adani group's Australian business arm Bravus Mining & Resources has exposed the first of the coal seams from mining at the Carmichael mine project in the country's Queensland province, Economic Times.
The company will begin exporting the first coal from the project this year. As per the company's chief executive David Boshoff, India will be a "foundation customer" for Carmichael coal and Bravus has already secured the market for 10 million tonnes per annum production.
Boshoff added, "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. India gets the energy they need and Australia gets the jobs and economic benefits in the process."
It should be noted that Gautam Adani led Adani group operates a sprawling portfolio of energy businesses involving not just thermal power which uses coal, but also, solar power, wind power and gas-based energy.