Australia's Largest Coal Mine in Jeopardy

The case against building Australia’s largest coal mine has focused on the threats of runaway climate change and ruin of the Great Barrier Reef. But finances may yet prove the key.
Leading economists and City analysts are baffled by plans from India’s Adani Group to build the A$16.5bn Carmichael mine and Abbot Point port expansion – just as coal prices have collapsed.
If the Carmichael project fails to convince investors, it could jeopardise plans for at least eight other mega mines in the coal-rich Galilee basin.
The Queensland government has been an enthusiastic supporter of mining the Galilee basin: it has poured A$2bn of public money into funding the expansion of the port, according to the Australia Institute.