Last of big four banks rules out funding Carmichael Mine


Protesting outside Commonwealth Bank Photo: Stop Adani

A Brisbane based campaign group is celebrating the Commonwealth Bank’s has announcement it will stop funding Adani mining projects.

The Stop Adani group conducted peaceful protests in Brisbane’s CBD Commonwealth Bank branches in July, shutting them down.

Spokesperson for Stop Adani, Peter Arndt said the group’s campaign had made a difference.

“We feel that our pressure made a significant difference and had an impact on the Commonwealth Bank decision,” Mr Arndt said.

Mr Arndt said the group will now turn their attention to other organisations funding the mining company.

“In particular, our  focus is on the Northern Australia  Infrastructure Facility (NAIF)  loan of almost a $1 billion that Adani is seeking in order to build the rail line from the mine to Abbott Point Terminal,” Mr Arndt said.

Cameron Black, a coal worker from the Mackay region said while he understood the project may be environmentally damaging, he also thought it was vital for the livelihoods families in the region.

“In and around Mackay for the last few years has been completely dead, people are selling the cars and houses, all in an effort to stay in their homes. I understand that the greenies are upset about the project, but they have to understand what it’s going to mean for us” Mr Black said.

The Stop Adani QLD group said they would continue to fight the Adani plans.

“We need more people getting active in certain activities to make sure that as Adani start to move on some construction that we put as much pressure as possible on the company itself and on the government, state and federal, to pull back from the mine – which will be disastrous for the environment and the community,” Mr Arndt said.

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