Risks all round from Adani’s Abbot Point sale plans

23 May 2018. Adani’s plans to sell down their stake in the Abbot Point coal export terminal, with the aid of investment bank Rothschild, are a win for the Carmichael mega mine project and a clear threat to the campaign to stop it, say environmental finance advocates Market Forces (“Adani looks … Read More

AECOM out! Adani loses last major engineering partner

16 May 2018 AECOM, the engineering company that had been working to design Adani’s Galilee basin rail line, has stopped work and “demobilised” its team working on the project. The company told the Guardian Australia that, despite being unable to finish the work due to lack of site access, “We’ve handed over … Read More

EFIC supporting Adani Carmichael

June 2018 Adani has failed to attract private finance to its proposed Carmichael mine and rail project and is becoming increasingly reliant on public funding to proceed. The company has already attempted to use the Northern Australia Infrastructure Facility to secure a publicly-funded loan – this was vetoed by the … Read More

Media release: Fourth major Chinese bank walks away from Adani mega mine

Wednesday 13 December, 2017: China Merchants Bank today provided a statement to environmental finance campaigning group Market Forces, confirming it will have no part in the proposed Adani Carmichael coal mine. The bank replied to a letter outlining an array of concerns with the proposed project and the corporate record … Read More

Westpac rules out Abbot Point terminal

8 December 2017 Westpac today all but confirmed it would not refinance the Abbot Point coal terminal, striking another blow to the crippled Adani coal mine. Climate related questions dominated the opening of question time at the bank’s annual general meeting in Sydney, revealing a lack of awareness around its … Read More

Embassy confirms: no Chinese money for Adani

6 December 2017 In a massive blow for both the Adani company and the Australian Government, the Chinese embassy has confirmed that no Chinese money will be invested in Adani’s Carmichael coal project. China’s rejection of Adani comes despite Deputy Primer Minister Barnaby Joyce and Trade Minister Steve Ciobo making … Read More

Chinese banks rule out Carmichael coal mine!

Most Australians won’t know about the Industrial and Commercial Bank of China, Bank of China or China Construction Bank. They are massive – among the biggest commercial banks in the world by assets.  All three banks are also current lenders to China Machinery Engineering Corporation, the company Adani has been … Read More

China Construction Bank rules out Adani coal!

Your email will also go to CMEC and its other bankers that getting involved in Adani’s coal mine would mean supporting one of the most environmentally damaging projects they could find, risking their own reputation.