Greens blocked by government over Adani Carmichael mine ownership inquiry
Adani’s flagship Galilee Basin mine, Carmichael, has been back in the spotlight; this time over who owns what in the company.
In a scathing attack on the federal government, Greens senator Larissa Waters accused the opposition and Labor being too close to the mining industry after it declined to support an investigation into which companies or individuals have control over the proposed development of Adani’s Carmichael mine in the Queensland Galilee Basin.
“Australia’s largest coal development”
The Greens called for an inquiry into Adani’s financial affairs after questions were fired about the who owns the Abbot Point coal terminal development.
The Carmichael mine is reported to be Australia’s largest coal development once it is operational.
Australian senators Jacqui Lambie, Ricky Muir, Nick Xenophon and the Palmer United Party voted in favour of the Greens’ calls to establish which entities control the development and whether Adani’s environmental track record in India had been properly considered by Australian Environment Minister Greg Hunt.
Senator Waters asked the question as to why it was so difficult for the major parties to support an urgent investigation who owns these coal projects.
On the flip side, Adani has repeatedly stated that the ownership of its coal assets in Australia had not changed and that the ownership of its lease at Abbot Point is “consistent with its stated position advised to every relevant regulatory authority in Queensland, Australia, and India”.
A recent investigation revealed that Adani chief and billionaire Gautam Adani does not ultimately control some the companies connected with his company’s Australian coal projects. What has been revealed is, Vinod Shantilal Adani, his eldest brother holds key positions.
“tax havens in the Cayman Islands”
It seems a matrix of companies appear to be linked to Adani’s coal developments in Australia, operating out of Singapore and the tax havens of the Cayman Islands.
There are reports that Adani Enterprises diluted its stake in Abbot Point port for $235 million in 2013 to a private Singapore entity of which Gautam older brother Vinod is the sole director.
A 60 million tonne a year mega-mine
As the Carmichael coal mine development in the Galilee Basin gains momentum, we see a new wave of media attention focussing on the Adani family. There has always been strong opposition to the development of the high-quality thermal coal mega-mine.
The coal will be transported from the mine via a yet to be built 360 kilometre railway link to the ship loading terminals at Abbot Point near Bowen on the north Queensland coast. Coal exported from Abbot Point will go direct to India where it will be used to fuel the country’s power stations.
“lift millions of Indians out of poverty”
India has suffered for decades managing the poverty that is rife throughout the country. Political pressure on the Indian government has forced them to make a stand and do whatever it can to lift millions of Indians out of poverty by allowing them access to electricity for the first time.
The Carmichael mine is seen as one of the better alternatives; and with a life span of some 30 plus years, the Adani Galilee Basin coal project is seen as a viable option.
When the mine is built and fully operational in 2017, it is expected some 60 million tonnes of coal will be exported through Abbot Point, and with that comes the promise of thousands of mining jobs for Queenslanders.
When the mine is operational, massive coal royalties for the Queensland government could be a major driving force behind the blocking of Greens senator Larissa Waters current campaign…we’ll leave you to decide about that one!
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