Coal 2398 days ago

Well, now this needs to be investigated thoroughly.Lets rewind back in case of Adani. If the public and the departments of India remember,Adani came out with an IPO a few years back claiming to use the IPO proceeds for Coal Mining and mines bought in Indonesia.If that was the case, why is the Indonesian Coal expensive? Being a miner, there is a huge difference of the cost of coal is mined from your own reserves then bought through from Indonesian Miners. There is definitely going to be a response that yes, they bought the mines but it would take two or three years to start mining in it, again this is not true. Now, lets say and take it for granted, that the landed cost to Adani in India on the imported coal from Indonesian is expensive, and is eligible for compensation, how come they are supplying to state owned power projects? maximum of states use coal supplied from Adani, so should not the state owned power projects be also compensated? In all cases, what happened to the mines Adani bought? They only have one small tiny winy coal concession somewhere out in Sumatera and the rest is all being bought on cash basis from Indonesian miners, blended and sold to end users in India.Tatas exited from their shareholding with Arutmin the biggest mining company in Indonesia, so they may be suffering the pricing factor, however, they still hold some mines.First question, if Adanis own power project is facing coal pricing issues,why is he supplying to other state?Not enough space here