Australian news, and some related international items

Legal action against Northern Australia Infrastructure Facility directors if they fund Adani coal mine?

Australian Conservation Foundation vows to pursue all avenues to stop Adani loan
Environmental group warns it will take legal action against Northern Australia Infrastructure Facility directors if funding granted for rail line, Guardian, Katharine Murphy, 24 May 17, 
Infrastructure Australia produces a priority list of nationally significant investments which is supposed to guide government investment decisions.

Infrastructure Australia’s chief executive, Philip Davies, said he had not yet discussed the Adani project with the Naif, even though the rail project has completed a preliminary assessment and been referred for further consideration.

 Adani is seeking a $900m concessional loan from the Naif for the rail line which links the mine with Abbot point. Infrastructure Australia and the Naif are required to consult on projects worth more than $100m.

Cousins said the evidence given in Senate estimates this week indicated the loan was nowhere near being granted. “Clearly all the rumours that this loan is about to be granted are untrue,” he said.

“I cannot see from this evidence that there is any way this loan can be granted.”

Cousins contends the directors of the Naif could be in breach of their fiduciary duties if they approve a loan to the project…….


May 24, 2017 - Posted by | AUSTRALIA - NATIONAL, climate change - global warming

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