Australia’s biggest proposed coal project loses 4m tonne deal with one of its two big customers as the country’s fourth-largest bank publicly distances itself

The National Australia Bank has ruled out funding Adani’s Carmichael mine, as the country’s biggest proposed coal project also lost a key customer in Korean electronics giant LG.

NAB, Australia’s fourth largest bank, had “no plans to be involved in any financing” of the controversial project, the Australian Financial Review reported. Sources said the bank would not buy in even if approached by Adani, the report said.

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Source: The Guardian Circular Economy RSS