Thursday, October 03, 2019

Interesting

The Guardian reports:
Another major insurer, Axis Capital, has shunned the Adani Carmichael coal project and withdrawn a bid to underwrite the construction of the mine’s rail line.

The withdrawal, first reported by Reuters, follows announcements from 15 of the world’s leading insurers which say they either won’t support the Carmichael mine, or won’t insure thermal coal projects.

It also presents a clear opportunity to activist groups seeking to stop the construction of Carmichael. Those efforts have targeted companies – on their front pavement and in the boardroom – who might provide logistical or financial support to Adani...
John Quiggin, a professor of economics at the University of Queensland, has said the Carmichael project “can’t proceed” without insurance.
So activists may not have to superglue themselves to the track, after all?  Or read up on rail line demolition for amateurs.   (I'm scared to Google the topic myself, just in case some it sets off some cyber alert in ASIO.)

1 comment:

Not Trampis said...

Adani has never been economic and has relied on crony capitalism to get going