The exploration was completed by Adani Mining that secured a license and commence exploration earlier in 2012 and also conducted a comprehensive geotechnical field study.
The compay said in a statement that exploration had also identified and measured resources of up to 3.4 billion tons in the Galilee Basin Tenement.
Development of mine, rail and port infrastructure as part of the Carmichael Mine project would soon commence, the company stated.
Adani Group chairman Gautam Adani commented, "Australian industry and the Indian corporates like the Adani Group, have some distinctive synergies, which will prove to be of mutual benefit to all in the long run."
Coal produced from the mine and that from others in Indonesia would fuel Adani Power’s projected 10,000MW power projects in India.
Adani Australia CEO Harsh Mishra was quoted by The Economic Times as saying, "We are anticipating recovery of 80%-90% of reserves from the Carmichael mine."
The group company plans to invest $7bn in Australian mining projects over the next few years.
