Mr Palmer at it again
Clive Palmer, chairman of Waratah Coal, has claimed that he intends to have ‘another crack’ at listing his parent company – Resourcehouse – on the Hong Kong Stock Exchange (see article). Mr Palmer is seeking to raise finance to pursue his ambitions to dig up and export 40 mega tonnes of coal from the Galilee Basin in central-western Queensland each year. His proposed development would probably destroy Bimblebox Nature Refuge and the surrounding land. It would also seriously degrade the quantity and quality of the area’s biodiversity and water in the process of adding significantly to global carbon emissions. Like everything else about the proposed ‘China First’ coal mine, it is clear that Mr Palmer and his company are more interested in their potential international investors, buyers and their own profits than the situation on the ground. As we have pointed out in previous blogs, all potential investors need to understand that the ‘China First’ project has not received any government approvals, and the company has repeatedly failed to meet their own deadlines to produce the Environmental Impact Assessment for this project. Their tardiness has only added their disrepute in the region and community where they intend to operate.