Australian news, and some related international items

Taxpayer loan for railway to Adani mine “not in the interests of NSW”: report ~ Matt Wade @MattWadeSMH  24 April 2017:

“The fairness of a proposed Commonwealth loan of nearly  $1 billion to fund a rail link to the giant Adani coal mine in Queensland’s Galilee Basin has been called into question by economic modelling showing
it may cost NSW hundreds of millions of dollars a year.

“Adani’s Carmichael mine will increase the global supply of coal by about 6 per cent, putting downward pressure on prices received by NSW coal exporters and  slashing mining royalties paid to the state government, the report by the Australia Institute says. … “


April 24, 2017 - Posted by | AUSTRALIA - NATIONAL, business

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