SEVERE WX : Winter Weather Advisory View Alerts

Indian billionaire won't use tax dollars for controversial coal mine in Australia

One of India's richest men is pushing ahead with a controversial coal mine in Australia, but the project wil...

Posted: Nov 29, 2018 11:30 AM
Updated: Nov 29, 2018 11:30 AM

One of India's richest men is pushing ahead with a controversial coal mine in Australia, but the project will be scaled back after plans for state subsidies were dropped following huge protests.

The Adani Group, owned by billionaire Gautam Adani, said Thursday that its Carmichael mine in Queensland state will be "100% financed" through its own resources.

Australia

Business and industry sectors

Business, economy and trade

Coal industry

Coal mining

Continents and regions

Energy and utilities

Mining and minerals

Oceania

Construction of the project, which has been repeatedly delayed by protests from politicians and environmentalists, can now begin, Adani's mining chief Lucas Dow said.

"We will now deliver the jobs and business opportunities we have promised ... all without requiring a cent of Australian taxpayer dollars," Dow said in a speech in Queensland released by the company.

The proposed use of Australian taxpayer dollars had enraged opponents of the mine, who say it will be a "death sentence" for the Great Barrier Reef because of the high levels of carbon pollution that coal produces. Large parts of the reef have already been destroyed by rising ocean temperatures linked to global warming.

Adani has significantly scaled back its ambitions for the mine. It had projected production of 60 million tons of coal a year, but says now that it will peak at 27.5 million tons.

Adani had initially said it would spend about $12 billion on the project, which also included a new railway line and an airstrip. It did not reveal how much the smaller mine will cost.

"The project stacks up both environmentally and financially," Dow said on Wednesday, adding that the company is working with regulators to get the remaining approvals it needs to start actually producing coal from the mine.

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 157515

Reported Deaths: 2298
CountyCasesDeaths
Multnomah32050550
Washington21456217
Marion18662287
Clackamas13507191
Lane10404132
Jackson8604118
Umatilla770982
Deschutes604265
Yamhill381869
Linn362657
Malheur336558
Polk309945
Klamath281955
Douglas262656
Josephine241056
Benton238418
Jefferson197930
Coos159921
Union130519
Columbia128021
Wasco122226
Lincoln114120
Hood River107329
Morrow105114
Crook78118
Clatsop7796
Baker6769
Curry4477
Tillamook4342
Lake3866
Harney2786
Grant2301
Wallowa1445
Gilliam541
Sherman530
Wheeler221
Unassigned00
Eugene
Cloudy
41° wxIcon
Hi: 52° Lo: 34°
Feels Like: 35°
Corvallis
Cloudy
39° wxIcon
Hi: 47° Lo: 33°
Feels Like: 32°
Roseburg
Cloudy
42° wxIcon
Hi: 52° Lo: 36°
Feels Like: 38°
North Bend
Mostly Cloudy
41° wxIcon
Hi: 47° Lo: 37°
Feels Like: 33°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events