More pork for Galilee

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Yesterday I wondered what further pork would get served up in the attempt to get uneconomic Galilee coal moving. It didn’t take long:

Land built from the reclaimed dredge spoil will be bought from the North Queenskland Bulk Ports Authority – which operates the Abbot Point port.

It will then be used to build land to host more port businesses, similar to the way the Port of Brisbane has expanded over several decades, Mr Seeney said.

Commercial arangements are still being finalised and Indian mining giant Adani, which has approval to use Abbot Point, has been involved in those talks, Mr Seeney said.

“It’s a commercial arrangement that takes into account the disposal cost they may already be facing, versus the alternative that we can offer them,” Mr Seeney said.

In short, QLD tax payers are buying the dredge spoil. Good for them!

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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.
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