Australia coal mine blow for India’s Adani
Embattled Indian miner Adani’s plans for a huge coal project in Australia has been dealt another blow after the government confirmed on Sunday it would not fund a rail link to the facility.
The development of the controversial $16 billion Carmichael mine near the Great Barrier Reef is set to be one of the world’s largest. But it has been delayed by several years amid regulatory and legal hurdles.
While a lease was granted in 2016, Adani is still seeking to secure funding for the first stage of a A$1 billion (Dh2.9bn) government loan for a vital 189-kilometre rail line linking the mine to a port.
But government frontbencher Karen Andrews said such a loan would not be forthcoming from Canberra amid opposition from the state government.
“For there to be money available through Naif [Northern Australia Infrastructure Fund], that will require the support of the Queensland [state] Labour government,” Ms Andrews told Sky News Australia.
“They are not going to provide that, so the advice that I’ve been given from the resources minister is that the financing will not proceed.”