Adani Group declares it will "self-finance" Australian coal mining project: Traditional group registers fresh opposition
The controversial Adani Group's Carmichael coal mine and rail project in Queensland, Australia, will be "100% financed" through the Group’s own resources, Adani, Mining CEO Lucas Dow has said.
A South Asia Times, Melbourne, report has quoted Dow as saying in Queensland, “We have already invested $3.3 billion in Adani’s Australian businesses, which is a clear demonstration of our capacity to deliver a financing solution for the revised scope of the mine and rail project."
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Pointing out that "the project stacks up both environmentally and financially", he added, "Today’s announcement removes any doubt as to the project stacking up financially... The Carmichael Project will deliver more than 1,500 direct jobs on the mine and rail projects during the initial ramp-up and construction phase, and will support thousands more indirect jobs, all of which will benefit regional Queensland communities.”
The project faces fierce opposition from environmental groups, who claim carbon emissions from the mine will badly hurt the nearby iconic Great Barrier Reef, already facing destruction from global warming. Adanis' announcement was countered by the Wangan & Jagalingou Traditional Owners Council, who said, “They don’t have our consent, they can’t build their mine. We demand a guarantee from the Queensland government they won’t now extinguish our native title for Adani."
The Traditional Owners Council further said, "Queensland Labour has said they recognize that the registration of the Adani ILUA is contested and they acknowledge and respect our right to have our complaints considered and determined by a court." It added, “We have an appeal before the full bench of the Federal Court. To act before this concludes would be to deny our rights and open the way for a grave injustice. Without our consent, the mine is not ready to proceed”.
The Traditional Owners Council further said, "Queensland Labour has said they recognize that the registration of the Adani ILUA is contested and they acknowledge and respect our right to have our complaints considered and determined by a court." It added, “We have an appeal before the full bench of the Federal Court. To act before this concludes would be to deny our rights and open the way for a grave injustice. Without our consent, the mine is not ready to proceed”.
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