![]() ![]() The Abbot Point expansion would add two new terminals for Adani Enterprise’s and GVK-Hancock, a joint venture between India’s GVK conglomerate and Rinehart’s Hancock Prospecting, which have long term plans to export 120 million tonnes a year of coal all together. ![]() ![]() “The real politics of the situation is they have a new environment minister who expects them to toe the line,” Matthieson said. The plan has sparked protests from environmentalists and scientists who fear the sensitive marine park will be damaged by the dumping and an expanded port, would nearly double shipping traffic through the reef, increasing the risk of accidents. If the permit is not granted it would add to uncertainty over $28 billion in proposed Galilee Basin projects, already delayed due to difficulty raising funds with coal prices down. The Galilee Basin could double Australia’s thermal coal exports and see it overtake Indonesia as the world’s top coal exporter, further fuelling China’s power plants and steel mills that have underpinned Australia’s decade-long mining boom. MELBOURNE, Jan 30 (Reuters) - Australia’s Great Barrier Reef watchdog is to decide by Friday whether to allow millions of cubic metres of dredged mud to be dumped near the fragile reef to create the world’s biggest coal port and possibly unlock $28 billion in coal projects.Ī dumping permit would allow a major expansion of the port of Abbot Point for two Indian firms and Australian billionaire miner Gina Rinehart, who together have $16 billion worth of coal projects in the untapped, inland Galilee Basin. ![]()
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