Documents identified in a Right to Information (RTI) request to the Queensland Treasury Corporation make clear that the Queensland ALP Government is doing everything it can to provide taxpayer funds to the Adani Corporation’s mine, rail and port developments while pretending to the public that it is keeping its election promises to do no such thing, spokesman for North Queensland Conservation Council (NQCC) Jeremy Tager said today.
Documents obtained by NQCC under Right to Information legislation (the State equivalent of the Federal’s Freedom of Information system) have revealed information that has created a major media stir and is cause for further alarm.
Close analysis of the hundreds of pages of RtI documents supplied last month in response to NQCC’s RtI application late last year and relating to the proposed Adani coal projects (Carmichael mine, rail and port terminal) have revealed that Queensland Treasury very concerned about three things. First was Adani’s apparent financial position and credit worthiness. Second was the fact that the previous government undertook no due diligence on either the public company Adani Enterprises or any of the myriad of private companies in the fiscally complex Adani conglomerate. Third was the fact that the Department of State Development appeared to have ‘gone rogue’, excluding both Treasury and the Department of Premier and Cabinet from discussion on Adani proposals.
The first two concerns were addressed in a story, Adani’s Carmichael Mine is unbankable says Queensland Treasury, by Sydney Morning Herald journalist Lisa Cox, which was shared over 5000 times in the 12 hours following its release. The story was later picked up by many outlets from the NQCC media release, Secret government documents show urgent due diligence needed on Adani’s Coal projects.
Treasury’s third concern was covered by ABC journalist Mark Willacy in the story Senior Qld bureaucrats suspicious about Adani deal. This was also picked up by other media by way of NQCC’s second media release for the day.
NQCC is concerned that the current government may be looking to follow too closely in the footsteps of the Newman government when it comes to the coal industry.
The action of Minister for State Development Dr Andrew Lynham in calling for tenders for the dredging at Abbot Point even before the Environmental Impact Statement has been completed is a worry.
And while Treasury was quick today to distance itself from the behavior of the previous government, it is still to demonstrate that it undertook due diligence for the Indian firm that is finding it so hard to find commercial investors but which still plans to destroy much Queensland land in order to export climate change inducing coal through the GBR.
NQCC will continue to work to shed light on the Adani issue, so that Queenslanders can be sure that their representatives are permitting only environmentally sustainable development.
Legal questioning in the Land Court in the case between Adani and Land Services of Coast and Country concludes today, after some extraordinary revelations. Barristers for both sides will make their closing statements next week.
NQCC was in court for some of the proceedings and can confirm that Barrister for Land Services of Coast and Country Saul Holt drew some extraordinary, and damning, statements from various Adani expert witnesses.
Chief amongst those was Continue reading “Adani… going down”
This is a summary (by a NQCC member in the audience) of material presented at “Hot Air” in Townsville on October 13. It went out to NQCC members in the newsletter a fortnight later and now, a month after the event, we have added links to the most recent news on the main issues.
Tim Buckley has kindly allowed us to reproduce his slides here – just click on any thumbnail or link.
On the same day that Tony Abbott opened Caval Ridge coal mine in the Bowen Basin, telling us that ‘coal is an essential part of our economic future’, Tim Buckley and Julien Vincent gave a presentation on ‘Stranded Fossil Fuel Assets’ and divestment organised by North Queensland Conservation Council in Townsville. Tim is Director of Energy Finance Studies, Australasia, within the Institute for Energy Economics and Financial Analysis where his job is to analyse markets. Julien Vincent is the lead campaigner with Market Forces. Continue reading “Stranded Fossil Fuel Assets”