Griffin Coal

IEEFA Research

Report – Stranded Out West: The Imminent Failure of Lanco Infratech’s Investment In Griffin Coal

Report – Stranded Out West: The Imminent Failure of Lanco Infratech’s Investment In Griffin Coal

Stranded Out West: The Imminent Failure of Lanco Infratech’s Investment In Griffin Coal (pdf)

December 5, 2014 Read More →
Briefing note: The Outlook for Financing for Australia’s Galilee Basin Coal Proposals

Briefing note: The Outlook for Financing for Australia’s Galilee Basin Coal Proposals

Briefing note: The outlook for financing for Australia’s Galilee Basin coal proposals By: Tom Sanzillo, IEEFA Director of Finance

October 22, 2014 Read More →

More News and Commentary

PFI: Chinese banks “genuinely trying to exit coal”

Project Finance International ($): The number of coal-fired power plants that still have project finance debt is greatly diminished today, whereas 15 years or so back they were all financed with non-recourse debt. Those that do have to refinance or raise new working capital loans from banks face difficulties as liquidity is limited and Australia […]

April 21, 2021 Read More →

IEEFA: American vulture funds prepare to feast on Australia’s Bluewaters Coal Power Station

Western Australia needs a formal transition plan to meet its 2035 thermal coal exit date

Elliott Management Corporation, the infamous U.S. based vulture fund manager, has hired law firm Corrs Chambers Westgarth “to control the destiny of the Bluewaters Power Station”. Advisory and investment firm KordaMentha has also been reportedly retained by other debtholders to restructure the troubled company.  The 466 megawatt (MW) Bluewaters Power Station is jointly owned by […]

September 4, 2020 Read More →

Lanco Close to Escaping Disastrous Griffin Purchase

The West Australian: Indian group Lanco Infratech has escaped a $200m payment linked to its disastrous purchase of the Griffin coal mine as part of a confidential settlement of one of [Western Australia’s] biggest commercial court cases. The settlement late last year coincided with insolvency firm KordaMentha flagging a final distribution of about $80m to […]

January 12, 2018 Read More →

West Australian Mine Owner Reports More Losses, Shows No Ability to Cover Clean-Up Costs

Government Regulators Are Doing Nothing to Protect the Public Interests in Lanco Infratech’s Handling of Griffin Coal Mine

In reporting a net loss of US$40 million for the year to March, Lanco Infratech of India, owner of the loss-making Griffin Coal Mine in Western Australia, has notched up its fifth consecutive year of losses. The performance only compounds the clear and ongoing state of financial distress for this Indian conglomerate. Net debt rose […]

June 1, 2016 Read More →
Report – Stranded Out West: The Imminent Failure of Lanco Infratech’s Investment In Griffin Coal

Report – Stranded Out West: The Imminent Failure of Lanco Infratech’s Investment In Griffin Coal

Stranded Out West: The Imminent Failure of Lanco Infratech’s Investment In Griffin Coal (pdf)

December 5, 2014 Read More →
Briefing note: The Outlook for Financing for Australia’s Galilee Basin Coal Proposals

Briefing note: The Outlook for Financing for Australia’s Galilee Basin Coal Proposals

Briefing note: The outlook for financing for Australia’s Galilee Basin coal proposals By: Tom Sanzillo, IEEFA Director of Finance

October 22, 2014 Read More →
Griffin loss provokes Collie mine doubts

Griffin loss provokes Collie mine doubts

By Daniel Mercer, The Weekend West Australian –  “Fears are mounting about the plight of a Collie mine that supplies coal to one of the State’s biggest electricity generators after it posted one of its biggest losses. Griffin Coal, the Indian -owned mine bought from the wreckage of former tycoon Ric Stowe’s failed business empire […]

February 18, 2014 Read More →