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Matt Grudnoff
Senior Researcher
Remember the #Adani Carmichael coal mine and all the controversy that went with it? Remember how it was going to fund schools and hospitals with all the tax it was going to pay?
Well, it has been operating for 3 years and has paid no company #tax and is unlikely to ever pay any.
In the year ending 30 March 2025, it made $1.3 billion in #revenue but reported a loss. This was in large part because of annual payments to related parties for interest, lease expenses, as well as paying for services conducted by other Adani entitles.
#Resource projects love to spruik all the economic benefits before they get approval. But there is nothing holding them to delivering those benefits.
#LNP Senator Matt Canavan, one of the mine’s biggest proponents, is in the news today with claims about the high cost of net zero. Maybe the media should be asking him when Adani is going to start paying all that tax.
This mine is bad for the #environment. It has now become clear that it is bad for government budgets and ultimately bad for the people of #Queensland