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. 19.07.2019
    19.07.2019
    by      In
    CEBIT Australia is Asia Pacific’s largest and longest running business and technology exhibition and conference. Some of the nation’s most influential leaders will take part in CEBIT Australia 2019, at Sydney’s International Convention Centre from 29th to 31st October. Tickets for one- and three-... Read More
  2. 18.07.2019
    18.07.2019
    by      In
    High-tech developer Micro-X will bring the design and manufacture of its next generation of carbon nanotube X-ray tubes to the Tonsley innovation district in the southern suburbs of Adelaide, in order to give it greater control over its operations.
    Micro-X has achieved strong growth since the 2017... Read More
  3. 18.07.2019
    18.07.2019
    by      In
    Syspro Australasia, an enterprise resource planning software provider specialising in manufacturing and distribution, has announced the appointment of Greg Robinson as its business development executive for Western Australia. The appointment is Syspro’s first business development role on the west... Read More
  4. 17.07.2019
    17.07.2019
    by      In
    Industrial drives specialist Bonfiglioli has doubled the size of its Victorian headquarters with its move to a new and expanded facility in Carrum Downs.
    The new 1000m2 facility – with expanded quality assurance, testing and production engineering capabilities – can accommodate stock levels double... Read More