Adani 'must stand on own feet'
THE Federal Opposition's spokesman for resources and Northern Australia, Jason Clare, has declared Labor's support for Adani's $16.5billion Carmichael coal mine in central Queensland is conditional on the project being able to "stand on its own two feet”.
On Radio National yesterday, Mr Clare said Adani should not receive a $900million concessional loan from the Federal Government's Northern Australia Infrastructure Fund because the company had claimed the project was commercially viable without taxpayer funds.
The money would go towards building a rail line connecting the mine and the Abbot Point port.
Noted that under the rules of the infrastructure fund it could "only provide funding if a project was unlikely to go ahead without it”, Mr Clare said the rail line therefore did not meet the requirements.
The Queensland Labor government supports Adani's funding application, as do various unions and regional mayors.
Prime Minister Malcolm Turnbull rejected suggestions yesterday that the future of the mine rested on the $900 million application for funding after Acting Prime Minister Barnaby Joyce described the loan as "a tipping point issue” for the project.
At a meeting with mining magnate Gautam Adani on Tuesday, Mr Turnbull assured him native title issues would not stop the project.
"The issue needs to be fixed and will be fixed,” he said.
The project faces widespread opposition from people concerned about global greenhouse gas emissions that will come from the mine's coal, as well environmental impacts on the Great Barrier Reef.
In a new report, the Climate Council warns climate change-related damage to the Great Barrier Reef could lead to one million fewer visitors each year, costing the economy $1 billion and 10,000 jobs.
"The burning of coal, oil, and gas is putting Australia's iconic reefs at risk of further bleaching and death,” the report says.
"Extreme coral bleaching and the death of reefs will become the new normal unless serious and rapid reductions in greenhouse gas emissions are achieved.”