Monday, 4 January 2016

Queensland won't fund Adani coal mine - tells Adani to go fund itself :)


Even the Federal Turnbull gov is getting cold feet over the Adani Reef wrecking coal mine in Queensland. Despite the fact that the minister for environmental destruction keeps approving the thing, the federal gov finds itself reluctant to fund it, recently saying the mine must stand on it's own two feet.

Now over the christmas break, the Queensland state gov has made it clear that Adani will not get any public funds for the project.
Queensland's government has warned Indian mining giant Adani it must finance the controversial Carmichael coal mine on its own. 

The federal government on Tuesday approved the expansion of Abbot Point port, which is intended to service the proposed Carmichael mine, prompting Premier Annastacia Palaszczuk to sternly tell Adani not to expect any financial assistance from the state. 

"There will be no taxpayers' money going towards this project," she said. SBS
So where does that leave Adani? Currently without funding from anyone. All the major banks have said no, pretty much because it's terrible for their image to be involved in the destruction of the Great Barrier Reef. Ya think? There's one hope though, they're still waiting on what the State Bank of India will say. 

No comments:

Post a Comment