Adani dead for years at least

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From The Australian:

Indian energy giant Adani’s $16 billion Carmichael mine is likely to be locked up in litigation until at least 2017, with a wave of looming legal action orchestrated by green groups as part of an anti-coal campaign.

Despite the Abbott government moving to restrict conservationists from using the courts to stop major projects, the mega-mine in Queensland’s burgeoning Galilee Basin coal province faces three more Federal Court challenges and is awaiting the outcome of an appeal in the state’s Land Court.

Conservationists have already touted filing for another Federal Court judicial review if Environment Minister Greg Hunt issues a renewed approval to the mine, after his approval was set aside this month in a consent order.

An indigenous group, which is being bankrolled by conservationists and has a native title claim on the proposed mine site, has also filed for a judicial review of the National Native Title Tribun­al’s decision granting mining licences­ for the project.

Given the global glut and worsening prospects for thermal coal the project is completely irrational and will only displace other coal mining jobs.

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Green group intervention is an odd way to deliver economic sense but I’ll take it.

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.