Anglo American pull out shows Abbot Point makes no sense economically or environmentally

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Anglo American’s decision, to join BHP, Rio Tinto and Lend Lease in pulling out of the Abbot Point coal terminal, is further evidence the project is economically unviable as well as environmentally disastrous.

“With the coal price dropping, the Abbot Point coal port is becoming as toxic to investors as it is to the Great Barrier Reef itself,” Senator Larissa Waters, Australian Greens environment spokesperson, said.           

“The big players are jumping ship because nobody wants our climate-destroying coal, with countries like China opting for renewable alternatives.

“The Abbott Government’s approval of the Abbot Point coal port could leave us with a stranded asset on top of irreparable damage to our Reef.

“Freedom of Information documents have revealed the Great Barrier Reef Marine Park Authority found the Abbot Point coal port would cause significant, irreparable damage to this World Heritage Area that would be impossible to offset.

“The Abbott Government must now revoke this damaging approval to allow the world’s largest coal port in the Great Barrier Reef World Heritage Area.

“The Abbott Government needs to wake up to the economic reality, and start listening to the science and the passionate community opposition to the Abbot Point coal port.

“We have viable renewable energy alternatives that won’t reduce our Great Barrier Reef to a dumping ground for dredge sludge, threatening its future and the 63,000 people who depend on a healthy reef for their job,” Senator Waters said.