Statement from Steve Knott, Chief Executive of Australian Resources and Energy Group AREEA, on the lack of clarity from the Australian Labor Party regarding their position on the Adani Carmichael Coal Project.
Adani and all the businesses, jobseekers and regional communities that would benefit from the Carmichael Project, deserve certainty.
We don’t think it’s unreasonable for the federal ALP to clearly state their position on the Adani project. It’s a smaller project now, fully self-funded, that would open up the enormous development potential of the Galilee Basin.
It’s not that hard for a political leader to say whether they support a project or not, given they’ve had the best part of a decade to consider it.
The industry also needs confidence that an ALP Government would support new investment projects, not pander to noisy minority groups located thousands of kilometres away.
The approvals process has been embarrassingly slow. Adani has been given the worst run-around of any major project investor in Australia’s history. This has been a terrible outcome from a sovereign risk perspective.
This isn’t just about Adani, it’s about sending a message that Australia remains an attractive place to invest.
ENDS
