Dec 14, 2017 Last Updated 4:28 PM, Dec 12, 2017

New Entry From the Editor :

Australian shopping empire Westfield sold to French property firm for $33 billion

Australian shopping empire Wes…

AusBN - Australian shopping mall juggernaut Westfield has been purchased by...

ASX introduces blockchain technology into trade settlement system

ASX introduces blockchain tech…

AusBN - Australian Securities Exchange (ASX) has become the first major glo...

Australia’s annual economic growth rate rises to 2.8%

Australia’s annual economic gr…

AusBN - Australia’s annual economic growth rate has risen to 2.8% aft...

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