The future of a controversial Queensland mega-mine has suffered another setback with project funding from China looking increasingly unlikely.
The Greens have heralded the end of the project after a second Chinese bank ruled out providing any funding for the Adani Carmichael coal mine in Queensland’s Galilee Basin.
‘Any financier with any sense doesn’t want Adani,’ Greens senator Andrew Bartlett told reporters in Canberra on Monday.
‘It’s time for Adani to give it up, save their money and for the politicians of Queensland to focus on the issues that will deliver genuine jobs for regional Queensland.’
A swing against the LNP in the recent state election showed that people don’t want corporations getting special deals, Senator Bartlett said.
‘They want the community put first.’
Overnight, The Industrial & Commercial Bank of China (ICBC) responded to reports Adani was seeking Chinese financing by distancing itself from the project.
‘ICBC has not been, and does not intend to be, engaged in arranging financing for this project,’ a statement on the bank’s website.
Another of the ‘big four’ Chinese banks, the China Construction Bank has already ruled out supporting the project.
Australia’s own ‘big four’ banks have ruled out supporting the project,
Likewise, the Queensland Labor government similarly promised to veto a federal government loan to the project during the recent state election.
Yet Nationals senator Bridget McKenzie said the Adani mine was still an ‘incredible project’ that would be an important source of jobs for regional Queensland.
‘I hope that private investment can be found to ensure that project does come to fruition,’ Senator McKenzie said.
The senator campaigned in Rockhampton and Keppel during Queensland’s state election.
‘On the ground, if you spoke to the young voters, if you spoke to the workers, they wanted to see this project go ahead because they knew it meant local jobs in that north Queensland area.’