Farewell Adani coal monster

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From Michael West:

For those with little acquaintance of this whitest of white mammals of the family Elephantidae, we refer to the lawsuit in the Queensland Land Court where Indian conglomerate Adani is trying to get approval for Australia’s biggest coal mine.

The week had begun poorly for the Indian conglomerate. It had long claimed its Carmichael mine in the Galilee Basin would deliver $22 billion in taxes and royalties. However, its own expert witness, Dr Jerome Fahrer, admitted to a figure of $7.8 billion.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.