‘Highly implausible’ that new Galilee Basin coalmines would be profitable, study finds

Report says Adani's Carmichael mine in central Queensland seems rather a political decision, not an economically driven one'

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Any new coalmines in Australia's Galilee Basin, including Adani's Carmichael mine, will not be economically viable in the long run under even the most generous assumptions about the future of the fossil fuel, according to an analysis by German academics.

The study, developed in conjunction with Australian experts, found it was highly implausible" that mines in the central Queensland basin could run profitably and there was a high chance they would end up as stranded assets.