Korea’s Hanwha Securities to stop financing Adani’s coal projects in Australia

first_imgKorea’s Hanwha Securities to stop financing Adani’s coal projects in Australia FacebookTwitterLinkedInEmailPrint分享The Guardian:A second major Korean backer of Adani’s Australian coal operation has said it won’t provide any more financial support for the controversial miner, which faces potential debt difficulties related to its Abbot Point export terminal.Guardian Australia has seen a letter from Korean brokerage firm Hanwha Securities – sent to the climate group Tipping Point on 30 July – which stated the firm would cease financing Adani’s coal projects.Last month, the ratings agency S&P Global downgraded its outlook on Adani’s Abbot Point terminal to “stable” after the company’s efforts to refinance debts were hindered by the coronavirus pandemic.The terminal’s Indian parent company, Adani Enterprises, urgently injected $100m needed to meet repayments due in May. Adani Abbot Point has also drawn down on about $170m of shareholder loans to pay off debt – owed to Commbank and Westpac – that was due to mature in November.Adani plans to export coal from its under-construction Carmichael mine from Abbot Point, which has total debts of about $1.5bn. Those debts include about $1.1bn due for repayment by December 2022, according to S&P Global.As the company postpones its efforts to refinance the most immediate Abbot Point debts, environmental activists have now secured withdrawal commitments from two large Korean financiers. Last month, Samsung group company Samsung Securities pledged to cease its financial backing of Adani, just days after protests began to target the group’s electronics branch.[Ben Smee]More: Second major Korean brokerage withdraws financial backing for Adani’s coal projectslast_img read more

Dolphins players hand out food to Miami Gardens residents displaced in fire

first_imgMIAMI GARDENS, FLA. (WSVN) – Families burned out of their homes in Miami Gardens received a helping hand from the Miami Dolphins.Team players, alumni and staff stopped by Crystal Lake Apartments on Monday to hand out boxes of food to residents trying to rebuild their lives.More than 50 people were forced out when a massive fire destroyed their complex on Northwest 27th Avenue and 207th Street on Wednesday. Displaced resident Patricia Beasley expressed her gratitude toward the team.“It feels good that they support us,” she said. “I’m just thankful that I’m alive, and it’s a good support. It’s good that they came out.”Police said 19-year-old Malachi Wilder started the blaze in what was described as a suicide attempt. He has been charged with arson.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The @MiamiDolphins players, alumni and staff team up with @CityofMiaGarden to assist in distributing meals to families displaced in the Crystal Lake Apartments fire pic.twitter.com/yC04xAPJX4— SFLCN (@sflcn) July 17, 2018Dolphins wide receiver Malcolm Lewis said he really wanted to help because the situation hit close to home.“My cousin still lives here. It’s just a blessing. They’re going through a tough time right now,” he said. “Miami [Gardens] Police and the Dolphins just wanted to give back.” last_img read more