Another nail in Adani’s coffin

By Leith van Onselen

The likelihood of Adani’s Carmichael mega coal mine project going ahead has shrunk some more.

Following this week’s confirmation by the Turnbull Government that the Adani Carmichael mine will not receive NAIF funding for the rail line, Australia’s largest rail freight company, Aurizon, says it will withdraw its application for a federal government loan to build the rail corridor. From The ABC:

Aurizon’s announcement to withdraw for a loan application from the Northern Australia Infrastructure Facility (NAIF) is another sign that Adani’s Carmichael coal mine remains stuck on the drawing board…

In a statement issued this morning, Aurizon CEO Andrew Harding said the company was unlikely to secure enough customer contracts to go ahead.

“Our NAIF application is, in part, predicated on having customer contracts secured,” he said.

“Given this is unlikely to occur in the near future we believe it is prudent to withdraw the NAIF application”…

Good riddance.

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Comments

  1. reusachtigeMEMBER

    It will be a shame if this doesn’t go ahead because it will provide around 10,000 jobs for locals and would help boost the property markets in the area!

    • must be at least one full time employee putting nails into the coffin, just about more steel then wood

      • Last report was there were people making sleepers and punters in SA making rail???
        this could be fake news.
        Mayor of TVL has supposedly given adani 6 months to get started or get out.
        BTW. my rail track is vastly superior to Aurizon’s proposal and if I thought for 1 second the project was a goer, I’d be over in the USA seeking backers. But coal is dead.

  2. alterbrainMEMBER

    About 1200 jobs. Yes there’s a short term boost where imported Indian and Chinese firms might not cover all areas and Australian companies will get some work. But three years from start where will the jobs go and who will buy the empty houses?

  3. This is all about Mr Adani getting back some of his sunk costs before waving us goodbye and laughing at us like Nelson Muntz. 🤑

    • So, what you are saying is, Adani wants a taxpayer-funded gift (railway costing $1 billion) so he can sell it for $250 million (or whatever) and cut his losses by $250 million?

  4. I think a lot of locals in Townsville and Rockhampton have been doing “pre or future Adani employment” training to snare a “future job”, paid for out of their own pocket.

    A lot of people wont be very happy methinks.