none
none

AUSSIE COAL INVESTMENTS UNDERMINED BY SOLAR

06-04-2016
by 
in 

Despite the Queensland Labor government’s approval of plans to build Australia’s biggest coal mine in the Galilee Basin, long-term prospects for the project do not appear promising.

Economists and environmentalists have spoken out against the viability of the thermal plant’s plans, and Adani Group, the developer behind the proposal, even appears to be shifting their focus to solar.  

Economist Dr Richard of the Australia Institute said, “there is no way this project will create an additional 10,000 jobs or even an additional 5,000 jobs for the Queensland economy. Adani has conceded that in court.”

Since the development was proposed the price of thermal coal has fallen by 70%, calling into question the venture’s profitability.

Despite promises of nearly 200 strict environmental preservation conditions, and a pledge that no dredge spoil will be dumped on the Great Barrier Reef, environmentalists still have concerns.

“Protecting the reef and approving the Carmichael mining lease are diametrically opposed: you cannot do both,” said Shani Tager, spokeswoman for Greenpeace Australia Pacific.

Adani Group themselves have not finalized their commitment to the project, and continue to look at potential solar development in Queensland and South Australia. 

Related news & editorials

  1. 21.11.2017
    21.11.2017
    by      In
    Darcy Ewing of Kurrupt Kustoms in Albury NSW was running compressed air from a 6-year-old reciprocating piston-style compressor when (in his own words) it virtually “S*** itself!”.
    This left his high-end auto body and customisation shop in real trouble with a total shutdown of all essential... Read More
  2. 21.11.2017
    21.11.2017
    by      In
    If the recent upheavals in Australian manufacturing illustrate one truth, it is the absolute necessity for forward planning, and more to the point, the importance of planning for growth – regardless of a company’s existing size.
    While the ambition to grow a manufacturing operation is one thing,... Read More
  3. 21.11.2017
    21.11.2017
    by      In
    Blockchain technology was invented to make the world’s first crypto-currency, Bitcoin, possible. Traditional currencies rely on intermediaries like governments, banks and clearing houses to guarantee their value and process transactions. Bitcoin uses digital technologies to cut out these middlemen... Read More
  4. 21.11.2017
    21.11.2017
    by      In
    Australian Tank Engineering (ATE Tankers) has been engineering and manufacturing tankers in Australia for nearly two decades. But whereas most vehicle manufacturers have seen sales decline in recent years, ATE has elevated itself through the trend with a transformative mindset that has enabled the... Read More