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From the launch of 2010 to the shipment of goods in 2021, protests and opposition activities have not stopped, in the face of global pressure to phase out coal, Carmichael coal mine can still "break out of the siege", on the one hand, thanks to the soaring price of natural gas to promote coal power "re-up", on the other hand, it is also related to the Australian government's forced development of the coal industry against the trend.
Recently, Carmichael, Australia's largest coal mine, launched the first batch of coal exports. The coal mine, built and operated by India's Adani Group, has been under attack not only on its own, but also in the international community, with the International Energy Agency even describing it as "the most controversial coal project currently under development."
The largest coal mine in China has been put into operation
Despite ongoing local protests, the first shipments of coal cargo from the Carmichael coal mine have been transported from the production site to the North Queensland export terminal, according to the Financial Times.
It is understood that since last December, protesters have taken various measures to try to prevent the shipment of coal, and even tried to enter the port to prevent loading. Still, the coal is "safe and sound" and is being loaded and shipped according to the port's schedule.
Although Adani did not say when or where the shipment would be shipped, it is widely expected that the shipment will be shipped to India almost entirely.
David Boshof, CEO of BMR, Adani subsidiary, said the first export of the Carmichael coal mine was a landmark result, "from the first shipments, we are delivering on the goals of the Carmichael coal mine project." ”
It is understood that Adani started the construction of the Carmichael coal mine project in 2010, initially planning to invest 16 billion Australian dollars, with an annual production capacity of 60 million tons of thermal coal, but due to the large local controversy in Australia, project lenders, insurance companies and major engineering companies have withdrawn. In 2018, Adani reduced its planned production capacity to 10 million tonnes and reduced its investment to A$2 billion. In June 2019, the project received its last development permit in the state, and the coal mine, which had been delayed for nearly 10 years, officially entered the development phase.
or lead to the "recovery" of other coal projects
The Carmichael coal mine has long been a "minefield" of Australia's climate change problem, with proponents arguing that it can boost the economy while opponents blame it for further exacerbating the climate crisis. With the Carmichael coal mine exporting the first coal, other coal projects in Australia are also "ready to move".
Tim Buckley, director of the Australian Institute of Energy Economics and Financial Analysis (IEEFA), said the export of the Carmichael coal mine would drive the launch of other coal projects in Australia.
It is reported that the Carmichael Coal Mine is the first coal mine in the Galilee Basin of Queensland, Australia, covering an area of about 250,000 square kilometers, with an estimated total coal reserve of 27 billion tons, more than indonesia's national reserves. Some analysts pointed out that the Galilee Basin contains a large number of undeveloped coal reserves, and if the thermal coal in the basin is "fully mined" and "thoroughly used", 700 million tons of carbon dioxide will be emitted into the atmosphere every year in the next 50 years.
The Queensland Government has high expectations for the full development and export of the Carmichael coal mine, saying that the coal mine will more than double australia's coal exports, and the realization of the Carmichael coal mine's exports undoubtedly means that other coal mine development plans in the Galilee Basin are also expected to take a step forward.
Proponents of the Carmichael coal mine believe the project will create jobs in the program and provide a steady and sufficient supply for the rapidly growing energy demand. Opponents stress that there is no justification for the existence of the Carmichael coal mine in the context of accelerated global climate action and energy transition.
There is no "Coal Abandonment" option
The Australian Broadcasting Corporation News Network pointed out that Australia does not seem to have any intention of abandoning coal, and even maintains high expectations for the coal industry.
Keith Pitt, The Federal Minister of Resources and Water Resources, has said publicly that the value of Australian thermal coal exports is expected to rise from $16 billion in 2020-2021 to $35 billion in 2021-2022, with a projected remaining $27 billion in 2022-2023.
"Adani wants to recoup the huge investment costs of acquiring the North Queensland port through coal exports, a move that will maximize the return of cash from rail investment and boost the port's operating margins." Tim Buckley said, "Even if coal prices fall and the economic benefits of the Carmichael coal mine shrink, Adani has the ability to expand its thermal coal capacity to 20 million tons." ”
On the issue of environmental protection, the Australian government argued that according to the Adani assessment, although the Carmichael coal mine is expected to produce 3 billion tons of carbon emissions during the development year, these are continuous emissions into the air, rather than one-time emissions, so the purification function of the atmosphere itself may dissipate these exhaust gases, and may not necessarily cause as serious pollution as environmental groups say.
In this regard, the Australian Nature Conservation Foundation publicly stated: "The Australian government has boosted the Carmichael coal mine to achieve the first coal output, making Australia's climate commitments in the international community a laughingstock again, and we feel more and more angry and desperate." ”
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