I kind of feel sorry for the Adani Group. Here they are sitting on Australia’s biggest coal reserve, yet nobody wants them.
But, how did Adani Group get into this strife torn project?
After all, Australia has most of the world’s biggest and smartest coal miners. They all knew about the Carmichael but none of them would touch it. Did Adani ask why not?
No Australian bank would fund it. Did this give Adani pause to think?
Aussie politics was always going to be mixed on this one – yes, er, no. Did these give Adani concerns?
The whole scheme depended on a new railway and a port – right near the globally significant Great Barrier Reef. Promised the “world’s biggest coal mine” our governments offered billions to pay for railway and port. But then it became “just enough coal for Adani’s own power stations”. That’s a long way short of the early promise and politicians are looking for an out. Is this a surprise to Adani?
Importing coal is no longer popular in his country of India, which is moving in a big way to alternatives such as wind and solar. Did Adani factor this into their Aussie plans?
And finally – global demand for coal has taken a hit, demand just fell over the cliff. What did Adani market research tell them about this?
In Australia, Adani Group is lonely.
Adani might be a fine Indian corporation. But here in Australia they seem to have stumbled into something no Aussie firm would touch.
That’s why I kind of feel sorry for them.