The fate of Adani Group’s A$16.5 billion ($12.4 billion) Australian coal mine hinges on weekend elections in Queensland state, as voters weigh the promise of new jobs against a potential environmental threat to the Great Barrier Reef.
The Labor government has vowed to reject A$900 million in federal funding for a new rail link, which is needed to carry coal to the coast for export. The opposition Liberal National Party, vying to win office in Saturday’s ballot, says that threatens the viability of Indian billionaire Gautam Adani’s project, and with it the economic future of the resource-rich state.
As the world grapples with the fossil fuel’s role in the future energy mix, the proposed Carmichael mine has become a defining issue in the election. Opinion polls indicate the result is too close to call. Continue Reading →