Alpha Coal project
The Alpha Coal project is a AUD6 billion coal mine and export project that is proposed to be constructed in Queensland, Australia. The black thermal coal mine and associated…
Nr. dodgy deals
Investors in Australian mega coal mine proposal warned of risks
Sydney, Jun 8 2012
This morning financial analysts across India woke up to find a huge full-page ad aimed squarely at them, warning "don't sink your profits on the Great Barrier Reef." The Asian Financial Times carried a full page investor alert advertisement on behalf of Greenpeace, GetUp! and BANKTRACK, warning analysts that investing in the Indian conglomerate GVK/Rinehart Alpha mega mine in Queensland’s Galilee Basin could be a minefield of risks.
The ad asks: Have you considered investing in new coal export projects in Australia? Then warns: National and international NGOs are vowing to fight these coal projects every step of the way, and then highlights key investment risks.
“While industry analysts are beginning to cast doubt over the viability of coal export projects in Australia, the United Nations World Heritage body has also warned about the devastating impact that the coal expansion could have on the Great Barrier Reef. Anyone thinking of investing in GVK/Gina Rinehart’s Alpha coal project would want to think long and hard if they want to be associated with this potential environmental and economic disaster,” GetUp environmental campaign director Paul Oosting said.
Greenpeace International Website
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