Financial evidence in the Queensland Land and Environment Court hearing on the proposed Carmichael coalmine in the Galilee Basin points to a venture that would operate at a loss and not result in projected increases in public revenue.
Evidence was presented by Rajesh Gupta, Adani’s local financial controller and Tim Buckley, financial analyst called by Land Services of Coast and Country (LSCC), the environmental group seeking to block the mine.
Gupta agreed under cross-examination the company would look to minimise its tax obligations within the law.