Adani mine: another insurer distances itself from Carmichael project

Possible rail line insurer Canopius says it is 'not involved in any negotiations' over the Queensland project

A Lloyd's of London insurer - considered one of the few remaining possible underwriters for elements of the Carmichael coal project - has distanced itself from Adani and says it is not involved in negotiations.

Canopius was one of two global companies understood to have held discussions with a broker about insuring the construction of Adani's proposed rail line, linking the Carmichael mine site to the Queensland freight network.

Both now appear to have ruled themselves out. It was reported on Thursday that Axis Capital withdrew its bid. Canopius said in a statement on Friday it was "not involved in any negotiations to provide insurance coverage for the Adani mine project".