Adani cancels second bank from Carmichael project
Indian energy giant Adani has cancelled a contract with a second bank, the UK's Standard Chartered, casting more doubts about the viability of its $16.5 billion Carmichael mine in central Queensland, according to the Australian Financial Review.
A spokesman for Adani said Standard Chartered, which was providing financial advice, was let go about a month ago, but the news only became public Tuesday.
Japan’s nuclear reactor restart met with caution
The restart of Japan’s first nuclear reactor in almost two years marks a potential turning point for the beleaguered uranium mining industry but analysts remain unconvinced the milestone will have any immediate impact on sagging prices, according to the Australian Financial Review.
Japan’s nuclear power sector was forced to a standstill after the Japanese tsunami of March 2011 triggered a meltdown at the Fukushima nuclear plant and prompted the country to turn off its 50 nuclear reactors.
Bradken won’t be sold on the cheap, says MD
Brian Hodges, the managing director of ailing mining services firm Bradken, says the sharp downturn in the mining cycle which caused the company to tumble to a bottomline loss of $241 million for 2014-15 is close to bottoming out, and merger talks with Chilean industrial group Sigdo Koppers need to factor in that Bradken is “dressed-up and ready” for an upturn when it comes, according to the Australian Financial Review.
Bradken has just 18 days left of an exclusivity period which runs until August 29 to hammer out a merger with Chilean industrial group Sigdo Koppers, backed by private equity firm CHAMP, but there’s no concrete proposal yet.
