An Indian Billionaire Doubles Down On Controversial Coal Mine



The Indian billionaire behind the controversial Carmichael coal mine in Australia is hitting back at criticism the endeavor will be both unprofitable and too dirty.

In an interview in New Delhi, Gautam Adani took aim at two major faults opponents have flung at the development: that the mine’s low-quality coal won’t earn enough money to justify his $2 billion investment, and that the world must abandon the fuel in favor of renewable energy to avoid catastrophic climate change.

“If the project wasn’t viable, we wouldn’t have pursued it,” said Adani, whose net worth of $9.8 billion makes him India’s sixth-richest person, according to the Bloomberg Billionaires Index. “Renewable energy is good for the nation, but it can’t meet our baseload power needs.”