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.
