Adani coalmine at heightened risk of becoming a stranded asset, report says

The Institute for Energy Economics and Financial Analysis (IEEFA), says the Carmichael project is likely to be “cash flow negative” for the majority its operating life, even with concessional loans.

People protest against Adani’s Carmichael calming
outside the Indian high commission in
 Canberra. Coral scientists have argued the coal
 needs to stay in the ground if the Great Barrier
 Reef is to be protected from the impacts
 of climate change.

The risk of the controversial Adani Carmichael coalmine becoming a stranded asset has increased in the last 12 months, according to a new report.

The IEEFA’s new report, Adani’s Remote Prospects, warns Adani Enterprises is not in a strong financial position.

It has thrown into doubt the wisdom of lending the project $1bn worth of taxpayers’ dollar through the Northern Australia Infrastructure Facility (NAIF).

Read the story by Gareth Hutchins on The Guardian - “Adani coalmine at heightened risk of becoming a stranded asset, report says.”

John Hewson says $1bn loan to Adani the 'last thing' Coalition should be doing

A former Liberal party leader says the controversial Adani Carmichael coalmine is already a “stranded asset” and the last thing the Turnbull government should be doing is lending Adani $1bn.

The former federal Liberal leader Dr John
Hewson says there is ‘no way’ the Turnbull
government should lend Adani $1bn of
 taxpayers’ money

Dr John Hewson, a professor in economics, has criticised the Turnbull government for considering lending Adani nearly $1bn in taxpayer money via the Northern Australia Infrastructure Facility (NAIF).

Hewson said the fund should only be used to help projects become commercially viable but the $1bn would be used by Adani to build a railway to a coalmine that Australia’s major banks have refused to fund.

Read Gareth Hutchens’ story on The Guardian - “John Hewson says $1bn loan to Adani the 'last thing' Coalition should be doing.”