Federal Labor says Adani's Carmichael mine has failed to live up to its economic promises after the Indian mining giant announced it will self-finance a dramatically smaller project than originally planned.
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| Adani will finance the Carmichael mine itself after failing to secure external finance. |
Adani Mining chief executive Lucas Dow on Thursday said the scaled-back project would be "100 per cent financed" from within the Adani conglomerate, clearing a major hurdle for the highly contentious proposal.
It has been revised down to a smaller rail line project and coal volumes to reduce the investment risk. Construction at the central Queensland mine site will soon begin, the company says.
Read the story from The Age by Nicole Hasham - “Adani announces coal mine construction will begin."
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