Accounts reveal a massive difference in whether private entities, or publicly listed ones, were impacted by losses booked against the Queensland coal project.
Adani declined to answer questions about how it accounted for the write-downs in 2018, but told the: “We are confident that all our business dealings are proper and fully compliant with the legal requirements of each jurisdiction in which we operate.”has created a pit to port model of exporting up to 10 million tonnes of coal annually from Queensland’s Carmichael mine. The coal is transported to a deepwater port near the Whitsundays by rail.
Those 2018 accounts said the remaining value was based on assessing the “recoverable amount of the Carmichael project [cash generating unit], which includes mine, rail and [terminal] expansion projects”. That $43.7 million impairment related to a port expansion project, which still has not yet proceeded, and did not relate to the Australian Adani Mining subsidiary, the sources argued.
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