This might be good news.
Adani Group has cancelled a A$2bn contract with a mining services company for work on its proposed Carmichael coal mine in Australia due to its failure to raise funds for the controversial project.
The cancellation of the contract with Downer, an Australian company, on Monday is the latest challenge to hit the Indian conglomerate’s project, which has become a focal point for protesters over the role played by coal in causing climate change.
It also follows a decision last week by the Queensland state government to veto a A$900m ($690m) low-cost loan to Adani and the failure of Chinese investors to back the Carmichael mine.
“Adani and Downer have mutually agreed to cancel all letter of awards [confirmations of successful contract bids] and Downer will provide transitional assistance until 31st March 2018,” Adani said in a statement.
Awww, yiss!