09 May, 2017

Adani’s Carmichael mine will overload coal market, cause global prices to fall, report shows

A confidential report obtained by the ABC says coal prices will fall significantly and exports from Australia's biggest coal port will decline if Adani's giant coal mine in north Queensland goes ahead.
 The handshake the saddened  those opposed
to the giant Adani coal mine in Queensland.
The research has come amid a major split in the Labor Party over plans to offer the giant Carmichael mine subsidies and a reduction in mining royalty payments.

And it has highlighted deep divisions behind the scenes in the coal industry over the federal and Queensland governments' support for subsidies for the giant mining project.

A key finding of the report was that if Adani's coal mine in north Queensland went ahead, it would add about 40 million tonnes a year of capacity to the market.


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