Yes, ESG wise it was a diabolical project to be involved in for a European business, a complete reputation killer but they sure went ahead with planning it for a long time. There were significant protests including representations to the German and EU authorities before they pulled the plug. Environmental damage as well as these human rights issues killed their involvement where the environmental damages should have been enough given the market they are targeting and the EU battery directives. Coal fired power stations servicing mines that dump their tailings into the sea are not aimed at servicing the environmental or climate change agenda one little bit, it's a cynical move on the part of Chinese industry and the Indonesians are beginning to see the folly as well as assess the damage. The future of mining will be cleaner, it's been getting that way for decades already. I saw that first hand living under Mt Lyell with a grey river full of tailings right at the end of my street heading off into the rainforest in the '80s. Indonesia will have their moment of waking up and assessing the damage to the environment one day and things will change. It's astonishing that there are actually people who think coal can play a part in the energy revolution, perhaps they have very short term goals and don't intend to be involved in a few years time. Leave it all to someone else to deal with.
BSX Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
