9 October 2020 Yesterday Adani formalised the rebranding of its coal port from Adani Abbot Point Terminal to North Queensland Export Terminal (NQXT). In paperwork submitted to the corporate regulator ASIC, six companies through which Adani holds and finances the port will have their names changed with all references to … Read More
Five Korean creditors dump Adani’s Abbot Point as judge orders $106m payment to customers
28 August 2020 Market Forces and Bushfire Survivors for Climate Action first wrote to Samsung Securities, Hanwha Securities, Mirae Asset Daewoo, Korea Investment and Securities and the Industrial Bank of Korea on 5 June. These companies were involved in two loans to Abbot Point, made in 2018 and 2019. We … Read More
Adani failing to refinance Abbot Point debt as creditors walk away
6 August 2020 Despite its best efforts, it seems Adani has so far failed to refinance Abbot Point Coal Terminal’s (AAPT) debt, with the company having to repay a total of $270 million for maturing loans and bonds due in 2020. Dipping into its own pocket to pay back the … Read More
Adani loses another banker as bushfire survivors call on creditors to walk away
19 June 2020 South African bank Investec has become the 68th major company to rule out involvement in the controversial Adani Carmichael coal project, while also distancing itself from Adani’s Abbot Point coal port, despite arranging a bond issue for the port back in 2017. This comes just as Abbot … Read More
Adani faces debt bill as Abbot Point refinancing fails
15 April 2020 The deteriorating financial state of the Adani Group and its Abbot Point coal export terminal raise serious questions about the ability of Adani to keep using its own money to finance the much-delayed Carmichael coal mine and rail line. Three major debts of Abbot Point are due … Read More
Aurizon AGM dominated by Adani concerns
17 October 2019 Aurizon’s annual general meeting (AGM), held in Brisbane today, was dominated by concerns over Aurizon’s potential involvement in the destructive Adani Carmichael coal project. Both shareholders inside the meeting and #StopAdani activists outside called on the rail freight company to refuse to provide coal haulage services to … Read More
Banks could accidentally fund Carmichael coal via Adani bond issue
8 July 2019 In early July 2019 Adani issued US$1billion in bonds for one part of its business (Adani Ports and Special Economic Zone), which nine major banks invested in. This company operates several ports in India. Unfortunately, the evidence shows that the Adani group of companies has regularly funded … Read More
Rothschild & Co bank called on to end support for Adani’s massive new coal mine
By Lucie Pinson – Friends of The Earth France, Originally published by Banktrack, 30 April 2019. “Keep coal in the ground!” In the last few years, this climate activist slogan has become a shared position worldwide, based not on beliefs but on facts. If there is still time to prevent runaway … Read More