Carmichael mine will be self-financed, says Adani Mining CEO Lucas Dow

By Neeraj Nanda

MELBOURNE, 30 November: The controversial Carmichael coal mine and rail project in Queensland will be 100% financed through the Adani Group’s resources, Adani Mining CEO Lucas Dow announced yesterday in Central Queensland.

The project has faced 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.

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Adani Australia CEO Lucas Dow. Photo: Adani Mining Twitter

In an Adani Mining media release, Dow says, “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.

“The project stacks up both environmentally and financially.
“Today’s announcement removes any doubt as to the project stacking up financially,” he says.

The media release claims, “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.”

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Photo: Greenpeace Australia

Meanwhile, in a media release, the Wangan & Jagalingou Traditional Owners Council says, “‘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. Queensland Labor 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.

“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”.

There has sprung a strong lobby group against the mine. Their concerns are the damaging impact of the mine on the Great Barrier Reef, on groundwater at the site, greenhouse emissions, and extinction of already endangered species. Mackay Conservation Group has already won its legal challenge on the last issue.

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