IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Indian mining giant Adani is facing another court battle over its plans to build its $12bn (A$16.5bn) Carmichael coal and rail project mine in Australia, which is set to be the country’s biggest coal mine.
Now the company is facing an appeal to the Queensland’s government decision earlier this month to grant Adani all the necessary licences to begin construction.
The Land Services of Coast and Country filed the judicial review Wednesday in the Supreme Court of Queensland, claiming the state’s environment department failed to ensure the proposed mine was an ecologically sustainable development, as outlined in the Environmental Protection Act.
Adani has said legal costs and cutting its way through the environmental hurdles had so far cost it $120 million.
Two weeks ago, a group representing the indigenous people Wangan and Jagalingou (W&J), traditional owners of the land where the project would be built, also challenged in court the leases issued by the Queensland government.
At this point, some are beginning to wonder whether the mega mine and rail project will ever be built.
Since first proposed, Carmichael has faced relentless opposition from organizations ranging from the United Nations to green groups fighting new coal projects, which has scared banks from lending to the project.
In August last year, a federal court had revoked the actual approval, citing environmental concerns.
But the project was later approved by the Australian government, under what environment minister Greg Hunt called “the strictest conditions in Australian history.”
Adani has said legal costs and cutting its way through the environmental hurdles had so far cost it $120 million.
According to official estimations, Carmichael will contribute $2.97bn each year to Queensland’s economy and has the potential to create 6,400 new jobs: around 2,500 construction positions and 3,900 operational posts.
Galilee Basin coal export projects map. (Courtesy of GalileeBasin.org)
Comments
JH
Big deal. The Land and Country according to 2014 Fin Report received:
$50,000 as a grant and
$31,000 in member funds.
The 5 principles you could believe are the main members in a little offcie in a coner at
1/20
Brook
South Brisbane QLD 4101
a run dowwn apartment, somebodies home by the looks if you check out google maps.
Another grandiose bunch of wind bags. Hoping, hopng they can find anything…as long as they get TV or news coverage.
In my opinion, people not properly trained (and many who are) slowly get adicted to the regular dose of media attention they get, slowly become media tarts and then its all about the personal gratitifcation, oh yeah, almost forgot, the enviornment too.
I don’t really think this Appeal is going anywhere soon. Adani won’t be missing any sleep.