Australians launch #StopAdani movement to save environment

Shubhanshu Sharma

Shubhanshu SharmaBy Shubhanshu Sharma

Published on 9 Oct 2017 1:34 PM GMT

Australians launch Stop Adani movement to save environment
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Brisbane: India's mining giant Adani Enterprises is facing strong opposition from all across Australia in setting up the country's largest coal mine, Carmichael coal mine, which has already delayed for years over environmental and financing issues.

Environment groups have claimed that the mine, which is proposed to be set up in Queensland, would not only contribute to global warming but will also damage the Great Barrier Reef.

The Australian citizens have launched a movement called 'Stop Adani', and have so far organized 45 protests across the country.

A group of over 1,000 people formed a human sign '#STOPADANI on the sands of Sydney's Bondi Beach, said organiser Blair Palese from activist group 350.

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"I think there’s a very real national concern that goes beyond Queensland about the idea of giving this mine a billion-dollar taxpayer-funded loan," she said.

According to the latest polling, more than half of the population of Australia is against the establishment of the mine.

Analysts are not sure if Adani Enterprises would be able to fund the mine, at an initial cost of $4 billion, given a global backlash to investment in fossil fuels.

Adani, however, has claimed that the project will not only produce billions of dollars in royalties and taxes but will also create jobs and export coal to India, which would help in providing electricity to rural regions.

Adani is majorly depending on a A$900 million ($704 million) loan from the Northern Australian Infrastructure Facility (NAIF) for a rail link to the proposed mine.

The company’s chief executive officer Jeyakumar Janakaraj, however, has asserted that Adani may not have to take the loan from NAIF. "If the commercial banks take off all the debt then we will not have any need for NAIF as there will be no gap.”

Shubhanshu Sharma

Shubhanshu Sharma

Writer has 6 years of experience in digital media. Presently working as Senior Sub Editor at newstrack.com. An avid reader and always willing to learn new things and techniques.

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