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

Chinese banks rule out Carmichael coal mine!

UPDATE: 13 December 2017China Merchants Bank has become the fourth major Chinese bank to categorically rule out lending to the Adani Carmichael project.In a statement issued directly to Market Forces, China Merchants Bank stated: “China Merchants Bank is not, and does not intend to be involved in the Adani Carmichael Mine … Read More

China Construction Bank rules out Adani coal!

One of the world’s biggest banks, the China Construction Bank, has become the 25th to rule out finance for Adani!In a statement received by Market Forces, a spokesperson for China Construction Bank said:”China Construction Bank is not involved with, nor considering involvement with, the Adani Carmichael Mine project.”They elaborated to confirm … Read More

CommBank – Last bank standing on Adani?

UPDATE – 11 August 2017: Commonwealth Bank have ruled out financing the Adani Carmichael coal mine! Original post: 3 May 2017 Following the great news that Westpac won’t fund the Adani Carmichael coal mine, attention has now turned to Commonwealth Bank, with the question being asked: will CommBank be the … Read More