Tuesday, June 27, 2017

Queensland Investment Corporation denies planning to fund Galilee coal mines

A Queensland Government investment vehicle has held talks about investing in the Galilee Basin coal mining region, raising speculation it may help bankroll infrastructure for the controversial Adani mine.
Documents show QIC has at least discussed
the prospect of investing in the Galilee Basin.
The Queensland Investment Corporation (QIC), established by the state government, held discussions with the Queensland Treasury in February about the prospect of QIC investing in projects that would mine, transport or export coal from the Galilee Basin region, documents released under the state's Right to Information laws show.

The documents were almost entirely redacted, with the Queensland Treasury determining that releasing details would prejudice QIC's business interests as the information "could be used by a competitor to cause commercial harm to the QIC and/or disadvantage QIC in the pursuit of the investment in potential projects”.


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