Updated
Photo:
GVK Hancock's Alpha Coal Project plans to produce about 30 million tonnes a year. (AAP - file photo)
There is speculation that the stalled Gina
Rinehart-backed Alpha coal mine project in the Galilee Basin could be
progressing, after the company lobbyist met with key Opposition
politicians during the Queensland election campaign, sparking
predictions of an impending fire sale.
GVK Hancock lobbyist Josh
Euler gave "project updates" to Opposition MP now leader Deb
Frecklington, former Opposition environment spokesman Christian Rowan
and crossbencher Robbie Katter at three separate fundraisers last month.This has raised eyebrows among analysts and activists after GVK's proposed Alpha and Kevin's Corner mines in the Galilee Basin appeared to be going nowhere because of financial problems.
Climate activists once determined to stop GVK — a joint venture between Australia's richest person and India's wealthy Reddy family —from opening up the world's biggest new coal precinct had since switched focus to Adani.
Institute for Energy Economics and Analysis spokesman Tim Buckley said the GVK venture appeared "absolutely dead" but the company could be preparing for a fire sale.
"Maybe what they're doing is getting all the approvals and with all the court cases out of the way, then maybe they'll look around and see if they can sell it," Mr Buckley said.Mr Euler downplayed the significance of the meetings, but he said GVK was determined to get its government approvals and mining lease after fighting off court challenges from conservationists.
"Really the only reason that those meetings were put there in terms of project updates, they were done in a fundraiser, and we're happy to go along to those things," he said.
"But our team constantly meets with government to make sure that everyone's aware of where the project's up to and where the project's advancing."
Mr Euler denied the project, which GVK claims would create double the jobs of Adani's mine at 20,000, had stalled.
"It's just the project is at a point where legal challenges have to be finalised and [government] approvals have to be all sorted out … before going to the bank," he said.
"We would have seen thousands of jobs throughout central Queensland years ago had it not been for activists slowing the process down."
Lobbyist's firm donated to LNP and Katter before election
Electoral Commission of Queensland records show that Mr Euler's firm Resolution PR declared donations of $2,900 to the LNP and $3,000 to Katter's Australian Party two days before the election.A spokeswoman for Ms Frecklington said there were "15 people at the function" where she met Mr Euler on November 13 and "no specific discussions of individual projects".
Dr Rowan said he recalled only meeting a group of mining representatives and talking about the LNP's interest in streamlining government approvals "while maintaining a good rigorous environmental compliance process".
Mr Katter said there was little discussed in his meeting "other than [Mr Euler saying] 'we're positive about things going ahead'".
"It's very hard with mining companies because they always tell you every side's positive," Mr Katter said.Mr Katter said he raised the issue of a Galilee rail line by stating the Katter Australian Party's position it should be in public hands, but received little response from the GVK lobbyist.
Project faces major write-downs
GVK Hancock slashed its staff and supplier payments from $6 million to $870,000 this year.
Ms Rinehart's own company has declared it unlikely it will ever see the $630 million it is still owed over the deal.
Aurizon last year wrote off a $30 million investment in a rail joint venture with GVK to link its mines to Adani's Abbot Point port.
Adani remains the front runner among Galilee hopefuls but its prospects are now under a cloud after state Labor's veto of its $1 billion federal loan for its rail link.
The Government has flagged no plan to veto a rival Galilee rail proposal by Aurizon. But Aurizon has said that proposal would hinge on binding contracts with miners, who would need bank backing.
No comments:
Post a Comment