Tim Buckley is a leading expert on the economics of the coal industry. He is Director of Energy Finance Studies, Australasia for the Institute of Energy Economics and Financial Analysis (IEEFA).
During this live video presentation Mr Buckley provided an analysis of the current situation for the coal industry and an outlook for coal's future prospects. He provided expert opinion on the challenges and risks still faced by the Adani mine and other mines planned for Queensland's Galilee Basin.
17 January 2020 Shared from Radio 4MK
Adani Responds To Claims of 'Water Grab'
By Michelle Brewer
Community opposition is growing against Adani’s plan to extract up to 12.5 billion litres per year from the Suttor River in central Queensland according to the Mackay Conservation Group.
The group said, "Hundreds of people have written to the Federal Minister Susan Ley objecting to the federal government’s handling of Adani’s water scheme".
In December the Mackay Conservation Group requested that supporters contact the federal member for environment Susan Ley and ask her to urgently review Adani’s application to extract 12.5 billion litres of fresh water annually from the Suttor River in central Queensland. in response, over 500 community letters have been sent to the minister’s electoral office over the last few weeks.Read more
Adani is currently in private negotiations with the Queensland Government to secure a royalty holiday so they can afford to build their mega coal mine in the Galilee Basin.
The deal could extend until the mine is profitable, which most financial analysts think it will never be. In documents disclosed under Freedom of Information laws, Queensland Treasury officials described the Adani mine as “unbankable”. At stake is up to $700 million in royalties that should be used to fund Queensland’s firefighters, schools, hospitals and roads.
The government has set itself a deadline of November 30 to make a decision but Queenslanders may never know the details. Both Adani and the government are refusing to divulge information about the secret agreement, citing commercial in confidence.Read more
Environmental organisations such as Mackay Conservation Group have focused on preventing the Adani mine from being constructed for several years. We have built a movement of two million people around the country who support organisations that are part of the Stop Adani alliance. That leads some people to wonder why we aren’t focussed on the other mines planned for the Galilee Basin and elsewhere.
In 2012 it appeared that the first cab off the rank would be the GVK-Hancock Alpha mine. It attracted a lot of attention from the environmental movement. That project hasn’t gone anywhere, while Adani has been eyeing off opportunities to open its mine with generous support from taxpayers including low-interest loans and special royalties deals.Read more
Media Release: Queensland Government Signs Death Warrant for Black Throated Finch Rather Than Stand Up to Adani
The Mackay Conservation Group has condemned the Queensland Government’s fast-track approval of Adani’s controversial Black Throated Finch management plan that will sign the death warrant for the endangered bird and ignores the company’s poor record in breaching environmental laws.
Mackay Conservation Group community organiser, Michael Kane, said the decision was politically motivated and the approval process had been rushed, manifestly inadequate and compromised.
“With the decision today, Australians now have a front row seat to the real time extinction of the endangered Black Throated Finch due to political expediency and a lack of leadership” he said.
“The truth is once Adani bulldozes the tiny finch’s last viable habitat, the birds will literally starve to death in great numbers. This is an extinction that we can stop today. There is still time for the Premier to walk back this process.Read more
Mackay, Queensland. It was clear from the dozens of people who gathered in Mackay over the weekend, to discuss the next steps in the campaign to stop the Adani mine, that locals have a significant appetite for working to prevent enormous coal mines being dug in the Galilee Basin and avert dangerous climate change.
About 40 residents met in East Mackay on Sunday to discuss the next steps in the local Stop Adani campaign following the apparent change in the Queensland Government’s position on assessing the project scientifically.
Mackay Conservation Group coordinator, Peter McCallum, said “People are increasingly worried about climate change given the extreme weather they’ve seen hit Queensland in recent times. They’ve also heard the dire predictions that the world’s leading scientists have been sharing with governments and the public for decades.Read more
22 May 2019
Palaszczuk must stick with science in the face of political bullying
The Queensland Premier has announced that the Adani mine assessment process will be fast-tracked and that a timeline for approval of the mine will be made public by Friday.
Peter McCallum, coordinator of Mackay Conservation Group, said “This decision follows intense political pressure from the mining industry and the Murdoch press. It is a kick in the guts for all those Queenslanders who were counting on the Palaszczuk Government to make sound scientific decisions on environmental issues.
“Today the Premier has said that she wants the scientific assessment process cut short. There can be only one reason for that, the pressure put on her government by a highly-orchestrated campaign by the mining industry and the Murdoch press.Read more
14 May 2019
Commenting on new CSIRO emails released today by the ABC, showing the agency was pressured by the Coalition government to approve Adani's controversial water plan within a number of hours, despite holding outstanding concerns, underline why Minister Price’s controversial decision should be reviewed, said Mackay Conservation Group today (“Adani water plan ticked off within hours despite lack of detail, internal CSIRO emails reveal”, ABC today).
Peter McCallum, Mackay co-ordinator of the Defend our Water Campaign - Not One Drop for Adani said, “It’s clear from these new CSIRO emails, released under right to information laws, that the agency responsible for properly scrutinising Adani’s groundwater plans was under a lot of pressure to tick off on the plans before the election was called.
The ABC reports the CSIRO was asked to provide a letter of advice, on which Minister Price could rely, merely on the basis of a verbal briefing and a short summary document provided that day.
“Adani CEO Mr Lucas Dow calls the CSIRO and GeoScience Australia ‘two of the most preeminent science organisations in Australia’. Knowing they had outstanding concerns about Adani’s groundwater plan are cause for all Australians to be concerned about the risks posed to our precious water supplies by Adani’s mine.
13 May 2019
MCG Calls for Scientific Review of Adani’s Groundwater Plans
The Mackay Conservation Group (MCG) says scientists should be asked further questions about Adani’s groundwater plans as a necessary precaution for the protection of essential groundwater resources, including the Great Artesian Basin and the Doongmabulla Springs.
The Federal Government approved the groundwater plan for Adani’s coal project in controversial circumstances days before the announcement of the Federal election and with serious questions raised about potential political interference.
MCG Community Organiser, Michael Kane, said groundwater resources are the lifeblood of Queensland farming, regional communities and the environment and too valuable to risk for a massive coal mine.
“Adani has an appalling track record when it comes to water protection, including unlawful release of coal-contaminated water into the protected Caley Valley Wetlands and Great Barrier Reef waters from its Abbot Point port operations.
11 May 2018
Adani Industry rally: Mackay locals demand future for youth, water and agriculture
As the Resource Industry Network prepares to rally in Mackay on Saturday, spokespeople for the Central Queensland Defend our Water campaign are calling for a future beyond coal that protects young people, Queensland water resources and agriculture.
Mackay cane grower Len Thompson said, “Coal has been a big part of Queensland’s past but we can’t bet our future on it. Locals around here realise Adani’s mine offers false hope. Whoever wins government has to develop a plan which will work for Central Queensland’s long term economic future.
“As a farmer I know that water is essential and a big question mark hangs over Adani’s groundwater impacts.
“Adani’s mine threatens Queensland’s water and our food security. We can’t afford to damage agriculture by digging new mines which will drive even more heatwaves, droughts and fires in this region.”