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Stopping the NAIF loan to Adani and redirecting it to other industries makes good sense economically, environmentally and politically, argues Tom Swann.
This discussion paper draws on modelling by coal industry analysts, which shows that a big expansion of coal exports from the Galilee Basin would have a major impact on coal production from coal mines in the Bowen and Surat basins in southern Queensland.
New research shows that the development of Adani and other Galilee basin mines would reduce NSW coal royalties by over $10 billion to 2035.
This report by senior researchers from the University of Queensland raises issues that are crucial to the important and timely debate about native title and the rights of Indigenous peoples in Australia and around the world.
This paper estimates that development of the Galilee Basin would reduce coal mining jobs by 9,000 in the Hunter Valley (NSW), 2,000 in the Bowen Basin (QLD) and 1,400 in the Surat Basin (QLD), compared to a scenario with no Galilee mines out to 2035.
The Queensland Labor government has offered Adani a “beneficial” royalty deal that would loan hundreds of millions, on subsidised terms it is keeping secret, under a “transparent policy framework” that was a few dot points at the end of a press release.