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Odds Are Against Completion of Australia Mega-Mine Project

first_imgOdds Are Against Completion of Australia Mega-Mine Project FacebookTwitterLinkedInEmailPrint分享The Guardian:Adani’s operations in Australia appear to be hanging on by a thread, as activists prove effective at undermining the company’s chances of getting the finance it needs.China seems to have ruled out funding for the mine, which means it’s not just Adani’s proposed Carmichael coalmine that is under threat, but also its existing Abbot Point coal terminal, which sits near Bowen, behind the Great Barrier Reef.The campaign against the mine has been long. Environmentalists first tried to use Australia’s environmental laws to block it from going ahead, and then failing that, focused on pressuring financial institutions, first here, and then around the world.The news that Beijing has left Adani out to dry comes as on-the-ground protests against construction of the mine pick up. Two Greens MPs, Jeremy Buckingham and Dawn Walker, have been arrested in Queensland for disrupting the company’s activities.Is China’s move the end of the road for Adani’s mega coalmine in Australia, and will the Adani Group be left with billions of dollars in stranded assets?One by one, each of the big four Australian banks ruled out financing the mineBut Australia’s environmental law leaves very little opportunity for challenging the merits of a minister’s decision – it only allows for challenges on whether those decisions considered everything required by the law. As a result, the minister needed only approve it again, after formally considering the impact on the two species.Another court challenge argued the approval was invalid because the emissions caused by the mine – which would be greater than those of New York City – were a threat to the Great Barrier Reef. Hunt argued in court, successfully, that there was no definite link between coal from Adani mine and climate change.It became apparent Australia’s environmental laws were unable to stop a project like this if the government of the day was determined to push it through.Although further court challenges remained on the cards, they could only serve to delay the project. So activists changed tactics, aiming to undermine the company’s chances of securing finance for the mine and its associated infrastructure.While threats to reputational damage were not effective against Adani Group, since it is family-owned, the same was not true of Australian banks, which were targeted heavily by activists.And one by one, each of the big four Australian banks ruled out financing the mine.By then Adani had seen the writing on the wall, and had shifted to seek finance from overseas institutions. It entered negotiations with the state-owned China Machinery Engineering Corporation (CMEC), which was thought to raise the potential of subsidised Chinese government loans.The Australian government, which was seeking to give Adani its own subsidised loan, had supported the company’s efforts in China, according to a freedom of information request by the Australia Institute that reveals “several hundred pages” relating to formal representations to foreign financiers by the Department of Foreign Affairs and Trade.In a Senate estimates hearing, it was revealed that the minister for trade, Steve Ciobo, and the deputy prime minister, Barnaby Joyce, had written a letter to the Chinese government confirming the mine had received all necessary environmental approvals.But even support from the highest levels of Australian government could not secure Chinese financing for the project – the activists won again.In a letter to ACF’s Geoff Cousins, China’s Australian embassy said that Beijing had “taken note” of his concerns, and that while a Chinese entity had been negotiating with Adani, it had terminated the negotiation process “due to the absence of commercial feasibility”.It also noted that “no Chinese banking institution has made any financing commitment to the project.”“Approaching China would seem like the last roll of the dice so Carmichael is now looking even more like the definition of a stranded asset,” says Simon Nicholas, an analyst from the pro-renewables Institute for Energy Economics and Financial Analysis (Ieefa).“Although there have been many twists and turns on Carmichael already, which makes it hard to predict,” Nicholas says. “Adani is faced with writing off their A$1.4bn investment if they can’t get the project going so they’ll continue to state that they are pursuing funding and make it sound like everything’s under control.”Tim Buckley, also from Ieefa, says the news is a major blow to the Carmichael project, and will mean there is unlikely to be much movement from Adani until after the federal court hears a case brought by representatives of the Wangan and Jagalingou, the traditional owners of the site of the mine.More: Is this the end of the road for Adani’s Australian megamine?last_img read more

‘Sister Julia Mensah Was a Great Woman’

first_imgThe rector of the St. Thomas Episcopal Church, the Rev. Canon Dr. James B. Sellee, has described the late sister Julia B. Mensah as a great woman, who served God and loved her fellow human beings.Canon Sellee made the assertion during the funeral service of Sister Julia B. Mensah, held last Saturday at the St. Thomas Episcopal Church on Camp Johnson Road, Monrovia.Canon Sellee explained that Jesus says to be great is to be a servant, not a master. “Sister Julia Mensah was great because she served her people and her church,” he declared. The canon recalled that Sister Julia sang in the church choir and served in the Usher Guild.  These are services that are strenuous and cannot be paid for, he noted. “The ushers serve at the door to the church, and the way they treat people determines whether or not they will come back to  the church. Sister Julia served faithfully in that area,” he stated.  “I remember, shortly after Christmas day last year, she took US$50.00 and gave it to me and I refused the money. Then she said to me, ‘You want to stop my blessing, Father?’” So I accepted it with gratitude. Yet, he said, “There are some of us who are very stingy even to our children, wives and family members.”Rev. Sellee explained that some people only believe in spending their money or services, including time, with other people and not with their children and family members, describing this as sad in the sight of God. The church, he declared, needs people like Sister Julia Mensah, who had the passion to serve the Lord, her church and people with everything she had.Rev. Sellee warned the congregation to stop engaging in things that would separate them from God. Serving God in His church and among His people was the best way to worship the Lord, he added.In his acknowledgements, Mr. Benoni Urey, cousin of the deceased, said their family had been troubled over the past three years with the deaths of many family members.Mr. Urey described Sister Mensah as an exceptional person who showed the family, her friends and others love and care.She was a real sister, not just a cousin, said Benoni, as he thanked God for sending her to their family, to the St. Thomas Episcopal Church family and to the world. Mr. Urey further expressed appreciation to all family members, friends and sympathizers who attended the funeral; as well as those who visited and comforted  Sister Julia during her illness.She is survived by three children, Reuben Mensah, Jr., Amerley Mensah and Amokor Mensah; brothers and sisters, Mrs. Dorothy Johnson Hopkins, Clemenceau B. Urey, Sr., Mrs. Annabel Urey Tingba, Henry Nea Urey, James Tiada Urey, Mrs. Felicia Urey Gaye; and many other relatives and friends.Following the funeral service, the cortege departed for Careysburg, where interment took place in the Woodson Family Cemetery.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

4 Steps to Visualize Your Career Goals

first_imgThere are times in your career that job search may seem like boot camp, where you follow your sergeant’s orders unquestioningly. You just do what they tell you and trust they will guide you to the right destination.You go along fine for a while, blindly letting others navigate your way from mile marker to mile marker, and from career city to career city. In fact, outsourcing the job of job search may feel calm, as you are head-down, performing the assigned tasks and feeling the glorious momentum propel you in new directions.However, this method of career management can derail you—and your career—if not kept in check. For the most part, you must commandeer your own job search. Strategically enlist people, tools and processes to help arrive at your personally prescribed destination versus following someone else’s orders.Doing so requires confidence in your destination selection as well as a process of career and self-evaluation every year or so to determine what adjustments are needed.Here are four ways to determine, and keep your eye on your career destination prize:1. Be honest with yourself.What is it that you wish for, going forward in your career? Do you seek a specific financial and salary compensation? Or, is there a day-to-day type task; i.e., writing or selling or programming that you want to perform? Perhaps it’s more about title, and your goal is to become a manager or ultimately, a senior executive leading a division, or even a company. Write it down. Create clarity.2. Realize your destination may evolve over the years.Allow for a change of course during this journey. The best way to do this is to think about your career often, and go deep every year or two to reevaluate and adjust your career sails. REALLY think about it – in addition to writing thoughts down, voice them aloud to someone you trust and read articles and books on topics that feed, add muscle to and sharpen your thought. It includes dreaming and expanding your mind, and being inspired. It includes being introspective about how your career dreams mesh with your personal goals.It’s okay to take the time and energy to perform this introspection versus always being immersed in production. Always doing and not thinking about what you are doing may ultimately be counterproductive, taking you in a direction far from your personal goals.3. Work-life balance or blend.While some people merge their careers and personal lives well, others have realized that, for them, there is no such thing. In fact, they are perfectly fine using their career as a means to their real happiness, which they live outside of their office hours. Don’t get entangled in other people’s hype. Just because you read it, doesn’t make it true; just because a passionate friend or more experienced colleague exudes their beliefs with passion, doesn’t mean you should embrace them as your own. In other words, your career is a discovery process and one that YOU own, nobody else. Do not give that power away.4. Don’t let the discovery process be an excuse not to land on, and act upon, goals.While long-term goals create vision for which to aspire, short-term goals create traction. Without long-term goals, you may find yourself hopping from short-term goal to short-term goal with no real gain, so they are extremely important to determine. That said, pick your ‘vision’ and move ahead. You can make adjustments, as mentioned previously. While life indeed may seem short, it still is long enough to make a few tweaks, mistakes and even transformations, along the way.last_img read more