PLEA Network

3 November 2017, Climate Home: Australian state premier promises to veto funding for giant Adani coal mine. Prospects of massive Indian-owned coal development take a dip after Queensland Labor leader makes surprise announcement. The future of the giant Adani Carmichael coal mine in northern Australian – considered a “carbon timebomb” by opponents – may be decided by a state election this month after the local premier shocked observers by pledging to block a A$900 million loan considered vital for it to go ahead. At a snap media conference late on Friday, Queensland Labor premier Annastacia Palaszczuk reversed her previous support for Indian billionaire Gautam Adani’s application for a concessional Australian government loan to pay for rail line from the outback mine site to a coastal port. She said she would exercise the state government’s power of veto over any loan after learning of rumours circulating about the role her partner had played in the proposed mine’s approval. The announcement comes amid heated political debate in Australia and the Pacific region over the proposal to create one of the world’s biggest coal mines in the Queensland outback. Adani says the fully developed Carmichael mine, to be developed in the state’s north about 340 kilometres south-west of Townsville, would produce up to 60 million tonnes of coal annually for 60 years. It plans to export the coal to burn in its Indian power plants. It would increase Australia’s coal exports by up to 30%. Read More here