A mega Chinese coal project near Adani’s proposed mine in the Galilee Basin is on hold with analysts saying it is financially unviable and not aligned with China’s interests.
“This project couldn’t get the backing of Chinese state-owned banks. It doesn’t stack up environmentally or economically,” said the Climate Council’s CEO, Amanda McKenzie.
“China is thinking about the future and it wants less Australian coal,” she said.
The China Stone mine would have created hundreds of millions of tonnes of carbon pollution over the life of the mine.
“The coal industry promises big on Australian jobs, but the industry is on shaky ground. There will be fewer and fewer jobs in coal as the world turns to cheaper, cleaner renewables. Australia needs to make a plan or risks being left behind,” said Ms McKenzie.
“Central Queensland needs to focus on a path to long-term, steady employment. Already thousands of jobs have been created in the sunshine state on the back of renewable energy, there are many more to come,” she said.
“Queenslanders are already experiencing the impacts of climate change with longer and more severe bushfires, more intense heatwaves and coral bleaching of the Great Barrier Reef. The last thing we should be doing is opening new coal mines like Adani’s proposed Carmichael mine,” said Ms McKenzie.
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