Stop Using US Tax Dollars to Fund Australian Mining Project

Target: U.S. Export-Import Bank Chairman Fred Hochberg

Goal: Terminate the use of United States tax dollars for funding a risky Australian mining project

The Indian company GVK recently leaked to media outlets the fact that the United States Export-Import Bank (Ex-Im) is seeking to finance all of the mining equipment for the proposed Alpha Coal Project in Australia. Ex-Im has not denied this allegation. A new report entitled “Stranded: A Financial analysis of GVK’s proposed Alpha Coal Project in Australia’s Galilee Basin” has recently brought to light the severe financial constraints of the project and has proven that any investment in the project would be a senseless one.

GVK has never successfully built or operated a coal mine (or conducted any successful business) outside of India, but they insist on shipping the coal mined from “Alpha” directly through the Great Barrier Reef. The World Heritage Committee warned the Australian Government that the Reef will become threatened unless steps are taken to shield it from imminent threats such as the expanded coal ports of the Alpha Project. All of this evidence indicates that this project will be a massive financial and ecological disaster, yet the US government wants to spend our tax dollars on it. We cannot let our money go to harmful, doomed projects such as this one.

PETITION LETTER:

Dear Fred Hochberg,

It has recently come to the public’s attention through an Indian company called GVK that the United States Export-Import Bank (Ex-Im) is attempting to pay for all of the mining equipment that would be involved in the proposed Alpha Coal Project in Australia. Ex-Im has not denied this allegation. A recent report entitled “Stranded: A Financial analysis of GVK’s proposed Alpha Coal Project in Australia’s Galilee Basin” has drawn attention to the severe financial constraints of the project and has proven that any investment in the project would be a senseless and ineffective one.

GVK has never successfully built or operated a coal mine (or conducted any successful business) outside of India. Despite a lack of experience, they insist on shipping the coal mined from “Alpha” directly through the Great Barrier Reef. Last week, the World Heritage Committee warned the Australian Government that the Reef will be listed as threatened unless drastic steps are taken to protect it from imminent threats such as the expanded coal ports of the Alpha Project. All of this evidence clearly demonstrates that this project will be a massive financial and ecological disaster, and yet the US government insists on spending our tax dollars on it. We demand that you withdraw Ex-Im’s support of this project and not put our money towards harmful, doomed projects such as this one.

Sincerely,

[Your Name Here]

Photo credit: Cookaa via Wikimedia Commons

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