Aug 18, 2017 Last Updated 2:35 PM, Aug 17, 2017

New Entry From the Editor :

Telstra cuts dividend outlook after disappointing FY performance

Telstra cuts dividend outlook …

AusBN - Telstra (ASX:TLS) has revealed its full-year (FY) profit dropped 33...

Contrasting fortunes for Origin and Woodside in FY results

Contrasting fortunes for Origi…

AusBN - Origin Energy has posted a full-year (FY) loss of AUS$2.2 billion a...

Report finds majority of top Australian firms ill-equipped for business in Asia

Report finds majority of top A…

AusBN - A report by think tank Asialink has found that a large majority of ...

Turnbull reassures Adani chairman over mega mine problems

Coal fire in opencast coal mineAusBNAusBN - Prime Minister Malcolm Turnbull has told the chairman of Adani Group that the issues blocking the progression of the Carmichael coal mine will soon be resolved.

Turnbull met with Guatam Adani in New Delhi during his three-day state visit to India, prior to the businessman’s final investment decision on the AUS$21 billion Carmichael mine.

The coal mine, located in Queensland's Galilee basin, will become Australia’s biggest mineral project, if the issue of Native Title in the local area can be settled.

The Wangan Jagalingou Traditional Owners Council have claimed the project impinges on their rights, however the federal government is working on passing legislation which could pave the way for the Carmichael mine.

Adani is also seeking a $900 million loan for a railway link to the port from the government’s Northern Australia Infrastructure Fund, but Turnbull maintained that any loan would be out of his control.

Local environmentalists also heavily oppose the Carmichael mine, and have threatened to disrupt construction if the mine goes ahead, arguing the carbon emissions from burning coal will damage Queensland's Great Barrier Reef.

@AusBNOnline

 

This Month's Issue

AusBN Vol3 Iss1

Subscribe

rgn web banner

abn web banner