Aurizon pull NAIF loan request, striking another blow to Adani’s planned mega-mine

Press release - 8 February, 2018

SYDNEY, February 9 , 2018 - Rail operator Aurizon’s withdrawal of a request for federal funding of its proposed rail line to the Galilee Basin is yet another demonstration of the economic unviability of the Adani Group’s Carmichael coal mine.

The rail operator said today that it had withdrawn its loan application to the Northern Australia Infrastructure Facility (NAIF) after failing to secure
contracts with proposed coal mines in the region.

“Aurizon has joined a long list of banks and services companies walking away from the Adani project,” Greenpeace Australia Pacific Climate and Energy Campaigner Nikola Casule said. “This is a huge win for the movement of people all across Australia that has stood up to stop Adani’s destructive plans.”
“Bill Shorten said last week that Labor would oppose the Adani Group’s Carmichael coal mine if it was found to be either economically or environmentally unviable.

There is no question that this mine would be an environmental disaster and Aurizon’s announcement is another clear demonstration of the economic unviability of the project.

“If Bill Shorten is standing by the criteria he set only a week ago he must commit to blocking the project should he lead a future Labor government.”

Aurizon’s announcement marks another setback for the Adani Group’s proposed coal mine after the newly re-elected Queensland Government said it would veto any NAIF loan to the company.

That blow came after almost thirty global banks ruled out financing the project, including Australia’s Big Four.

“Aurizon’s decision reflects the wider public sentiment, which has become increasingly hostile amid revelations of the Adani Group’s tainted environmental and corporate record,” Casule said.

“While this news is welcome, the battle is not over. Greenpeace Australia Pacific and the Stop Adani movement will continue to take the fight to Adani and its enablers until this nightmare of a project is dead and buried.”

Media contacts:
Martin Zavan, Greenpeace Australia Pacific Media Campaigner
0424 295 422