Ludicrous Adani to ship coal at huge losses

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Via the AFR comes a job well done:

Adani Mining chief executive David Boshoff has a clear message for the environmental activists and naysayers who have spent the past decade rallying against the $2 billion Carmichael coal mine in Central Queensland – “it’s happening”.

Standing on the edge of the first pit being dug at the Carmichael mine, Mr Boshoff said the Indian-owned company was on track to start exporting thermal coal from next year, ramping up to a 10 million tonne output.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.