The Queensland government has issued a final environmental authority for Adani’s controversial $16.5 billion Carmichael mine.
But final approvals, including the mining lease, could be held up for months after a legal challenge by an indigenous group and another appeal by an environmental group over the mega-mine in the Galilee Basin.
The Department of Environment and Heritage Protection on Tuesday granted the final environmental authority subject to 140 conditions, including nine relating to the endangered black-throated finch.
From the AFR:
…”With the global coal market plummeting and countries like China, the US and even Vietnam phasing out new coal mines, the Queensland government should be creating a transition plan for coal workers, not backing a dead-end project like Carmichael,” said Greenpeace Australia’s reef campaigner Shani Tager.
That’s about right. The coal price is today under $50 and the Adani mine needs more like $100 to break even:
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MB still expects the price to fall another third in the next few years even without Carmichael. The Adani project makes zero economic sense.
