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Adani Australian mine to be built on subsidies and tax concessions

One Australian newspaper put the figure of A$4.4 billion of subsidies on a report out this week which said the Adani Carmichael coal mining project in Australia, would otherwise be “unbankable and unviable”, The report was from the Institute of Energy Economics and Financial Analysis, and it concluded that the Australian Government had pushed subsidies, favorable deals and tax concessions throughout the project’s proposed 30-year life. It got the final go ahead in June, when Rethink Energy said that it was doomed as an investment after it produced revised plans on how it would look after groundwater and got permission from the pro-coal Australian government to go ahead. Adani is an Indian company, and it plans to extract the coal,…

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