Adani green lights coal war

Via the AFR:

Indian energy giant Adani has finally pulled the trigger on its controversial $2 billion Carmichael mine and will fund the project itself, with construction planned to begin before Christmas.

After eight years of court challenges from environmental activists and delayed approvals, Adani Australia chief executive Lucas Dow on Thursday said the company had finally reached financial close on the project which could start exporting coal by the end of 2020.

The decision could prove a catalyst for opening up the frontier Galilee Basin in Central Queensland – with other big coal mines expected to follow including GVK/Hancock Coal’s two mines and MacMines’ recently approved $6.7 billion China Stone project. It will also be welcomed by pro-coal activists in the Morrison government, including federal Resources Minister Matt Canavan.

Hello political, community and city versus country war. That said, this proposal is 10m tonnes versus the original 60mt.

Comments

  1. Er, it’s not city/etc vs country
    I think there’s plenty of country folks who are against this.

    Perhaps this might be framed as hello corporate environmental vandals/corrupt pols/anti science twats Vs everyone else?

  2. Chris Wallen from Qcoal opened up a 10mt mine last year 100 kms west of Mackay and there wasn’t a peep. Had Adani funded this in the first place instead of engaging lobbyists to bleed the taxpayer they may have made life a lot easier for themselves.

    • There is a world of difference between coking coal and thermal coal, and Adani’s coal mine can only make a return if it’s $140 a tonne, so of course it’ll need to find some stupid idiot, er, I mean, GOVERNMENT, to fund it.

      • Rubbish, where do you get your figures from, This mine was always going to go ahead, just like the dozens that have stated in the last 2 years, this was never a fight against Adani, it was a fight against the Galilee Basin, as set out in the leaked Greens doc “Stopping the australian coal export boom” Play by Play.
        I reckon this fight has kept as many people employed as the actual mine will -funny stuff.
        The Trouble is I used to support most Greens issues, now after having seen their willingness to twist the truth and just down right lies in order to further their cause I will never support another Greens cause, About Bloody time!!! Go Adani

      • I smell shill

        Of course it’s a shill, paid by Minerals Council, like many here.

        Thousands of coal mines still planned or under construction around the world, so this pencils out for Adani.

        Homo sapiens ignoramus strikes again.

      • ResearchtimeMEMBER

        H&H accused me of being on the Minerals Council… which was humorous. I didn’t even know what it was!!! My views on this project well known, so I won’t repeat!

      • Lol. Shill or bogan with a JetSki that needs paying off – lots of them getting whipped into a frenzy by Canavan (even though he’s the one that helped set the scene for their screw over by their ridiculous unsustainable regional mortgages… Adani is desperately trying to save its listing investment in Abbott Point.

        It is very hard to not form the opinion that Adani is not a mining house (none of them will go near the project it’s unbankable) they are professional regulatory fraudsters.

      • ErmingtonPlumbingMEMBER

        Mean while the culture wars continue to be the primary political focus of millions of our citizens and even more disturbingly the majority of our politicians.

    • Dick later acknowledged that wind is cheaper than coal for real-time electricity. His only gripe is against battery storage costs.

    • Think Dick was saying let the 30 year olds and under decide though they should know there are problems/extra costs with storage. With voting restricted to that age group he would know renewables would win the day which is probably what he really wants.

  3. My biggest issue with the adani mine is they are allowed to suck billions of litres of water out of the great artesian basin for free.

  4. This is a lot of publicity for a non announcement. How do you reach financial close on a deal with yourself? This is about a last ditch effort to make it look as if the mine is under construction to try and stop Labor cancelling it when they get elected. Still highly dubious that the mine will proceed. No announcement from Aurizon about the building of supporting rail infrastructure or the signing of any new agreement for access. This is a mirage.

  5. If they don’t buy high quality coal from us, they will only buy more polluting, lower quality coal from somewhere else.

    Coal fired power remains the most affordable type of reliable electricity generation, and that is the only reason the developing world is using it.