Adani coal mine: Insider tip off points to brokerage giant, says Market Forces

“Marsh is not acting as insurance broker for Bravus Resources, developer of Australia’s Carmichael coalmine, a source familiar with the situation has told InsuranceERM,” said the news story.

According to Market Forces, this revelation comes two weeks after the #StopAdani campaign received an anonymous, insider tip-off. The insider, according to Market Forces, said the global brokerage, Lockton, was recently appointed as the new insurance broker for Adani Australia, including the Carmichael coal mine.

“Considering Carmichael’s ongoing insurance difficulties, any work Lockton does for Adani could prove decisive in enabling the mine to continue to operate and increase production,” said Pablo Brait, campaigner at Market Forces.

According to the Adani Group, at the end of December, the first coal shipment from the central Queensland Carmichael Mine was ready to leave its Australian export terminal despite years of environmental campaigning and the refusal by major insurers to offer coverage for the project.

However, the coal’s exact status is not known publicly. Adani is thought to be concerned about revealing the shipping schedule and the coal’s location to fossil fuel activists.

Insurance Business has reached out to Adani, Marsh and Lockton for comment. No official response was received by the time of publication. If a response is received, this story will be updated.