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Corporate Head-kicker Puts Boot in at Adani
By Lindy Nolan
Adani’s recent tactics against First Nations bear the marks of a man well-known to workers in Queensland mines and in the Illawarra south of Sydney.
According to the Financial Review’s Matthew Stevens, Lucas Dow became new Adani CEO in April 2018 after leaving South32, which emerged from BHP Billiton in 2015.
Dow immediately took steps to ensure the struggling Adani project was self-financed, by cutting 50 per cent from initial planned costs. He also took steps to end battles with other corporations.
According to Stevens, Adani had been fighting not only those opposed to the mine, but Australia’s biggest freight operator and Business Council member, Aurizon.
Adani had been refused funding for a potential rail monopoly of its own that would have undermined Aurizon’s.
Dow quickly announced a new plan to link Adani’s rail line to the closest point on Aurizon’s system. This entrenched Aurizon’s position while providing dramatically cheaper result for Adani. Negotiations are ongoing.
In March costs were awarded to Adani after a court battle with yet another corporate giant, John Holland.
Dow stated, "We are close to finalising finance as the recent mine and rail decisions have significantly simplified the finance requirements for Carmichael."
Parent Category: Spirit Content
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