Future of Adani coalmine hanging by a thread after Chinese banks back out

Bob Carr says decision could be the end for controversial Carmichael project, adding: 'It couldn't have been more emphatic'

Adani's Carmichael coalmine project will not be funded by Chinese banks, the Chinese embassy has said, in a move some see as dooming the project, and potentially Adani's operations in Australia.

Bob Carr, the former New South Wales premier and former foreign minister, told the Guardian he had been lobbying Chinese businesses and government for three weeks before receiving confirmation from the Chinese embassy in Australia that no Chinese bank would be financing the controversial project.