India will have a coal supply shortfall of 256 million tonnes by 2020 and 408 million tonnes a year shortfall by 2040, Indian conglomerate Adani said in Melbourne today Muthuraj Guruswamy, the company’s General Manager Corporate Affairs, told the International Mining and Resources Conference that India’s power needs would grow 3.7 times in the period 2014-2040.
While the country was committed to expanding renewables, the need for coal-generated power would still increase 2.4 times. India’s domestic thermal coal industry could not meet this demand, so imports would continue to rise – reaching 408 million tonnes a year by 2040.
Australia, which has the world’s fourth largest known coal resources (behind the USA, Russia and China) was well placed to supply this, he said. This was the market for which Adani’s Carmichael mine in Queensland was planned.
The proposed open cut mine would have an output of 25 million tonnes a year and be part of the integrated North Galilee Basin Rail Project and Abbot Point development. All would be aligned with the UN’s sustainable development goals, Mr Guruswamy said. Also, traditional owner employment was written into the contracts, he said.