Aug 7, 2014

‘The bust is already here’: can Rinehart make Galilee coal profitable?

GVK Hancock is betting a lot on its Galilee Basin coal project. But with angry neighbours and falling coal prices, will they really hit pay dirt?

Paddy Manning

Crikey business editor

Gina Rinehart with GVK Chairman and MD G. V. Krishna Reddy and GVK Vice-Chairman G. V. Sanjay Reddy

Free Trial

You've hit members-only content.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

4 thoughts on “‘The bust is already here’: can Rinehart make Galilee coal profitable?

  1. AR

    Pity that’s only a tika, at first I hoped that it was a bullet hole.

  2. Liamj

    Thanks for the analysis, i really hope the deal falls through and the coal stays in the ground. I wonder will the IPA give Gina her money back if she runs short of a bob?

  3. Daly

    Stranded assets! Buyer beware in a global warming scenario where China is getting out of coal and the Galilee Basin needs to stay in the ground.
    How will Gina go sending 40 applications in and dealing with 40 knock backs!

  4. klewso

    Heads up – Seeney isn’t Treasurer – he hasn’t enough toes – he’s the “Minister for Holes in the Ground, Mates with Quarries, State of Development and Infrastructure and Planting(?)”.
    Santo Claws’s puppet Tim Nicholls is our State Treasure.

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details