International Energy Agency doubts the viability of Adani’s Galilee Basin mine

Adani’s Galilee Basin mine unlikely to go ahead, says International Energy Agency http://www.abc.net.au/news/2015-12-18/galilee-basin-projects-unlikely-to-go-ahead/7042526 national environment reporter Sara Phillips, ABC News: 18/19 Dec 15:

“The latest Global Coal Outlook from the world’s peak energy agency says mining projects worth nearly $40 billion in Queensland’s Galilee Basin are unlikely to go ahead. The International Energy Agency’s (IEA) forecast for the coal industry predicts demand for the fossil fuel will grow by less than 1 per cent a year for the next five years.

The fall-off in demand is largely a result of a declining Chinese market, with air pollution and climate change regulations reducing development of coal-fired electricity. …

However the coal quality in the Galilee Basin is not premium. And IEA says it has doubts about the viability of the huge development planned for Queensland. … “