• Thursday, October 06, 2022

Business

Australia won’t fund mega Adani mine rail link

The Adani mine in Queensland

By: Sarwar Alam

Embattled Indian miner Adani’s plans for a massive coal project in Australia has been dealt another blow after the government confirmed Sunday it would not fund a rail link to the facility. The development of the controversial US$16 billion Carmichael mine near the Great Barrier Reef is set to be one of the world’s largest. But it has been delayed by several years amid regulatory and legal hurdles. While a lease was granted in 2016, Adani is still seeking to secure funding for the first stage of a Aus$1 billion (US$790 million) government loan for a vital 189-kilometre (117-mile) rail…

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