Stockbroking | Wealth Management | Corporate Advice


Resizing text on the web

To increase or decrease the magnification of a web page, press Ctrl and '+' (plus) to zoom in or Ctrl and '-' (minus) to zoom out. To return the page to its original size, press Ctrl + 0.

You can also scroll the mouse wheel up and down while holding Ctrl to increase/decrease zoom level.

Qld mining council calls for Adani support

Queensland Resources Council boss Ian Macfarlane has called on Annastacia Palaszczuk's Labor government to put its weight behind Adani as it faces further setbacks to its proposed coal mine.

The Indian miner's $16.5 billion Carmichael project was dealt a blow on Friday when freight operator Aurizon announced it was pulling out of plans to build a railway line through the Galilee Basin coal fields.

A railway linking the region to the Abbot Point coal terminal is critical to Adani's project, with their own bid to build a line hamstrung by Ms Palaszczuk's decision to veto a taxpayer-funded loan.

Adani insists it is not impacted by Aurizon's decision and remains focused on pushing ahead with early works.

But that hasn't stopped QRC chief executive Ian Macfarlane from calling on the premier and her cabinet to stand up for Adani.

"Recent Queensland government statements regarding the development of the Galilee Basin and Adani have been confusing," he said on Friday.

"Premier Palaszczuk and her ministers need to be categoric and emphatic in their support of the Queensland resources sector and its potential for expansion, including the Adani mine."

A Queensland government spokesperson said it was up to Adani to decide how to proceed in light of Aurizon's decision.

Austrlaian Associated PressBack to Breaking News

Market Indices