News Ticker:

Adani coal mine: green groups fume over plan for $1b federal loan | The Guardian

The environmental movement is up in arms over a move towards federal funding of up to $1b for a railway that will serve Adani’s proposed Queensland coal mine.

A $2.2b rail link to Adani’s huge Carmichael mine in the untapped Galilee basin has gained conditional approval for a commonwealth loan, days before its billionaire promoter, Gautam Adani, is due to meet state and federal political leaders.

The 310km North Galilee Basin Rail Project has met the economic, financial and employment conditions for a 50% loan over five years under the Northern Australia Infrastructure Fund (NAIF), the Courier-Mail reported.The railway, which will open up coalfields that reef scientists argue must remain untapped for the survival of the Great Barrier Reef, will require more detailed assessment before the NAIF panel agrees to fund it.

Source: Adani coal mine: green groups fume over plan for $1b federal loan | Business | The Guardian

Unbelievable. The perfect example of putting amassing wealth and greed over precious places.  Sickening.

Thanks!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: