Adani is “a very important project, which will see significant investment in Australia and provide electricity to millions of people in the developing world,” he said.
He said navigating the tension between activists and investors “is going to be a real challenge for me”.
…”Anti-development activism can create major delays in projects and send investment offshore, and you have to be very conscious of that when there are such large time frames involved and we are competing internationally for investment in this country,” he said. “We are not the only nation in the world that produces iron ore or mines for coal.”
No, and that’s the problem. Because we are large producer of thermal coal, at the expensive end of the global cost curve, any further new supply that is even more expensive (that is, Adani) will simply shut other more efficient mines in Australia.
The issue with Adani is not environmental, it is economic.
