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8 February 2016, The Guardian, Queensland miners’ call for tax relief to save jobs is ‘outrageous’, say opponents. Queensland’s resources industry has called on the state and federal governments for help to save thousands of jobs after a study showed that a third of the state’s coalmines are running at a loss. The report, commissioned by the Queensland Resources Council (QRC), also found that more than half of the mines producing thermal coal for power stations were losing money. “It’s really time for government to sit down with the industry and see what we can do to hang onto the jobs we’ve got,” the chief executive of QRC, Michael Roche, told ABC radio. Roche said governments must consider what support could be given to the industry, such as tax relief. He said conditions were some of the worst faced in decades. But the anti-mining group Lock the Gate said it was “outrageous” for miners to claim more help from the state government, which he said already gave $3bn a year in various subsidies to the industry. “The industry is inherently cyclical and there is no case for industry relief. The industry should have been prepared for the inevitable downturn,” said spokesman Drew Hutton. “Mining is a long-term business and it obviously did a very poor job in managing its cashflow. The Queensland government must resist subsidising mining and rewarding them for poorly managing their businesses.” Roche estimated that 21,000 jobs had been lost in the industry in Queensland in the past two years as demand from China has slowed and commodity prices have plunged. “We would like government to think about what we need to do to protect the remaining 60,000 jobs in the Queensland resources sector,” Roche said. But Lock The Gate said the industry provided less than 3% of jobs in Queensland and that rehabilitating the landscape from the impact of open-cut coal mining in particular would create far more employment than financial relief for existing operations. Read More here

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5 February 2016, Renew Economy, Five things we learned this week about Tony Turnbull/ Malcolm Abbott. Remember Tony Abbott? He was the leader of the Coalition government who thought that climate change was crap, dismantled the carbon price, trashed the Climate Council, and tried to dismantle the Climate Change Authority, the Australian Renewable Energy Agency and the Clean Energy Finance Corp. Tony Abbott brought investment in large scale renewable energy to a screeching halt by threatening to kill the renewable energy target, and then cutting it sharply, so encouraging a capital strike by major utilities. He also threatened to decimate the ranks of climate scientists through major cuts to the CSIRO. He said he hated the sight of wind farms, and said he thought coal was good for humanity. Remember Malcolm Turnbull? He was the former Opposition leader who enthusiastically launched the Beyond Zero Emissions Plan for a rapid transition to 100 per cent renewable energy in Australia in 2010, who spoke of the moral and economic importance of acting decisively on climate change, who spoke of Direct Action as “irresponsible” and a “fig leaf” for a climate policy, and who spoke of many fine Liberal policy initiatives in whole sentences. Nearly six months ago, something strange happened. Malcolm Turnbull became prime minister after Tony Abbott was dumped by his own party. But nothing changed. If the swap had been made by deed poll or a cardboard cut-out, the practical impact on climate and clean energy policies would have been no greater. The carbon price is still scrapped, the “fig leaf” remains the centrepiece of the great policy misnomer Direct Action; Australia’s emissions are surging to a record high; the capital strike by utilities continues and large scale renewables investment remains at zero; the legislation to repeal the CCA, ARENA and the CEFC has not been withdrawn; coal is still considered good for humanity, and even a solution to hunger; and 300 or so climate scientists have just been told, in the parlance of modern football, to “do one” by the CSIRO and find another job. Yet, in spite of all this, all Turnbull needs to do to be assured of election victory this year – in the absence of a credible opposition leader – is to make sure he does not actually morph into Tony Abbott. That means woo-ing the “soft centre” who chose to believe – like they did in 2013 – that Tony Abbott would “do the right thing”, despite all the evidence to the contrary. In fact, Malcolm Turnbull doesn’t even need to be Malcolm Turnbull. He certainly doesn’t need to drop Abbott’s policies, and appears to have made a promise not to. A new composite figure, call him Malcolm Abbott or Tony Turnbull, has emerged. How do we know this? Here’s five reasons why: Read More here

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4 February 2016, Renew Economy, Adani puts Galilee coal mine on hold pending recovery in coal price. The Indian mining and energy giant Adani Enterprises appears to have put development of its massive and controversial $16 billion Carmichael coal mine in the Galilee Basin on hold – until coal prices show signs of a solid rebound. Which could be never. A report from brooking house Axis Capital in India this week quotes Adani management as saying that no capital expenditure is planned by the company for the project until there is “visibility” of a rebound in the coal price. Given that international coal prices are at record lows, and most analysts predict further falls as the commodity faces increased competition from renewables, and major economies turn away from coal due to environmental and climate impacts, it suggests that Adani accepts that the Galilee Basin may not get developed. This is in complete contrast to the comments attributed by Adani to the Queensland government, where it is apparently trying to sound optimistic about its go-ahead, suggesting it could re-start works within months. The Queensland Labor government this week gave environmental approval for the mine, despite massive concerns about its impact on the Great Barrier Reef and on climate targets. An Adani spokesman was quoted by the Brisbane Courier-Mail as saying: “The company is in a position to resume some of the development and other works on its projects within months of a mining lease being granted.” However, the Axis Capital report (an excerpt of which appears above) quoted Adani management as saying that no capital expenditure is planned for the Galille Basin mine this financial year – and none would be likely in future without “visibility of revival in global coal prices.” Given that the outlook for global coal prices is poor, this suggests that there will be no investment in Galilee, and underscores the difficulty it will have in attracting finance for a project that analysts says will not be economic. Even the conservative International Energy Agency said late last year that it did not expect carmichael and other projects in the Galilee Basin to be built. “It is not likely that the above listed projects will be operational by 2020, if ever,” it said in its latest medium term coal outlook.Read More here

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2 February 2016, The Guardian, Queensland gives Adani environmental permit for Carmichael coalmine. Huge project clears one more hurdle, but financial uncertainty still hovers over the mine and related rail and port construction at Abbot Point. Adani has secured an environmental permit from the Queensland government to build Australia’s largest coal mine. The Indian conglomerate was issued an environmental authority for its Carmichael mine, west of Bowen in north Queensland, by the department of environment and heritage on Tuesday. It is one less hurdle for Adani’s highly contested plans, after its Australian chief complained last week that delays in government approvals were “incentivising” green activists to plot further legal challenges to stymie the company’s progress. Adani still needs to obtain significant bank funding to realise its $16.5bn mine, rail and port project. It must convince the Queensland government it has obtained “financial closure” before it will be allowed to begin dredging near Great Barrier Reef waters to expand the Abbot Point export facility. A lull in world coal demand and moves in India to rely less on imported thermal coal have cast doubt on the future of the mine. Adani still has to obtain a mining lease from the Queensland government. The state land court last year recommended resources minister Anthony Lynham approve the lease after a legal challenge by conservation group Coast and Country failed to persuade the judge that the mine would have any impact on Asian coal consumption. Read more here

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