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Related Categories: International | Environment & Forest Defense
Korean companies encouraged to back highly contentious giant coal mine in Australia
by Market Forces (contact [at] marketforces.org.au)
Thursday Oct 4th, 2018 9:31 PM
We obtained a document this week that reveals Korean companies were being encouraged to back Adani’s Carmichael project.
Adani: https://www.smh.com.au/politics/federal/documents-show-australian-and-south-korean-officials-discussed-financing-adani-mega-mine-20181004-p507r9.html
In 2016, Adani asked Australia’s Department of Foreign Affairs and Trade to meet with the Korean Export Import Bank, and DFAT obliged.
ef542aac36be194af1e16fca7240457cb5f99980.jpg
The subsequent communication from Seoul to Canberra described Korea’s interest in encouraging its own financial institutions, engineering and construction companies to back Australian infrastructure, specifically noting the Australian and Queensland Governments’ support for the Adani project.

Fast forward to 2018 and Adani is trying to sell part of its Abbot Point coal export terminal. It has already been reported that Adani is in talks with Korean investors over that sale. If successful the Abbot Point sale would unlock hundreds of millions of dollars that could then be used to finance the Carmichael mine and rail projects.

We urgently need to push back. Can you take a minute to send a message to Korea’s embassy and financial institutions? They need to be warned that investing in Abbot Point would be helping Adani to build the most environmentally contentious project in Australia's history.
https://www.marketforces.org.au/korean-companies-encouraged-to-back-adani/

Next week I’ll be in Canberra at a demonstration in front of the Korean Embassy, calling for financial institutions and companies from Korea to give Adani the widest possible berth. Anyone in Canberra can attend the event at lunchtime on Wednesday, 10 October - full details are available here.

https://www.facebook.com/events/173109626924882/

It would be great by then to have thousands of messages streaming in to the embassy so please take action today!

It’s clear Adani wants to rush its mega mine through before elections in Australia and India take place in 2019, making the next few months critical if we want to stop the Carmichael coal mine once and for all.

Thanks so much for your support,

Julien, on behalf of Market Forces

P.S. You can see some coverage of today’s news about Korea encouraging its own companies to back Adani here.

https://www.marketforces.org.au/korean-companies-encouraged-to-back-adani/