Proposed Adani Coal Mine Comes To Whyalla Steel’s Rescue

Posted on Thu 05/04/2017 by

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By Andrew Bolt ~

The Australian Greens Party are against Adani and the Labor Party was also backing off, sniffing the populist winds. Banks, terrified of green protesters, have refused to lend to the project.

But that makes them all against Australian jobs:

The proposed $16.5 billion Adani Carmichael mine project in central Queensland has thrown a lifeline to South Australia’s steel industry and the embattled city of Whyalla with an undertaking to source 800km of rail line worth more than $70 million from Arrium’s struggling steelworks.

The giant Indian conglomerate will announce today in Whyalla that it has signed a memorandum of understanding to give the indebted Arrium Steel sole right to supply all the steel required for the double-tracked 400km rail line between the central Queensland mine site and the port at Abbot Point.

In a further sign of Adani’s intent to go ahead with the coalmine project in the Galilee Basin, the company has given Arrium a contract, dependent on finance and the project going ahead, to supply 56,000 tonnes of steel over two and a half years.

Arrium Steel, crippled by debt and a lack of orders, has been faced with closure, which threatened the survival of Whyalla as South Australia’s steel city.

Arrium Steel employs 3000 people in Whyalla, one in 10 people in the city.

Let’s hear again from Labor. Does it back a Greens scare or Australian jobs?

Its decision will be a cost-benefit one of course – both in judging the national interest and its own. Will the gain of banning a coal mine be worth the pain.

But that, in fact, is exactly the approach we should bring to all global warming policies. Tell us how much a scheme will cut the world’s temperature and what specific gains that will bring. Then tell us the cost.

On that basis, we’d actually junk almost everything with do to “stop” global warming.

As famed climate scientist Richard Lindzen says:

… climate change has been the alleged motivation for numerous policies, which, for the most part, seem to have done more harm than the purported climate change, and have the obvious capacity to do much more.

Andrew Bolt writes for the Herald Sun, Daily Telegraph, and The Advertiser and runs Australia’s most-read political blog. On week nights he hosts The Bolt Report on Sky News at 7pm and his Macquarie Radio show at 8pm with Steve Price.

Read more excellent articles from Andrew Bolt’s Blog . http://blogs.news.com.au/heraldsun/andrewbolt/

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