Adani may sell stake in Carmichael coal mine amid funding delay

The battle to build one of the world’s biggest coal mines has suffered a fresh setback after Adani Enterprises conceded it would fail to meet a March deadline to arrange A$3-billion in financing for the project. The December decision by the Queensland government to veto Adani’s A$900-million funding bid for a rail line meant financing would require more time to be secured, an Adani Australia spokeswoman said by phone Thursday. The Indian conglomerate said it will also consider selling a minority stake in its Carmichael project without providing further details.