Adani giving itself the green light does not change the economics of coal

Coal mining is not economically viable within the constraints of a global carbon budget

Indian mining firm Adani announced on Tuesday that its board had approved plans to proceed with the controversial Carmichael coal mine in Queensland’s Galilee Basin.

But it is still far from clear whether Adani has actually obtained the finance to proceed with the A$16.5 billion project, or whether it has secured the necessary A$1.1 billion loan from the government’s Northern Australia Infrastructure Facility needed for the mine’s railway.

That hasn’t stopped the state government hailing the announcement as an economic win for Queensland, on the basis of job creation and