The Adani coal mine in Queensland will be one of the largest in the world (if it is built) and further threatens the Great Barrier reef from both ships as well as the carbon emissions from the coal when burnt.
But with waning demand globally for coal and given the excellent financial and market analysis by David Fickling at Bloomberg, it just makes no sense. Yet both the Queensland Labour government and the Federal Liberal government persist in pushing forward with support for it, including providing huge financial support even though it that doesn’t stack up; it creates around ~2,000 jobs as best and less when running, with most profits going offshore. There is overwhelming opposition nationally and a great deal of concern from southeast Queensland, unanimous opposition from all environmental and climate change groups, let’s hope the lack of economics become clear to any investors including our governments. Adani – it just doesn’t stack up.