Coal mine in Australia

This company's large-scale project first attracted attention in Switzerland at the beginning of 2020, against the backdrop of the devastating fires in Australia and growing concerns about climate change. Plans called for a coal mine on an area almost twice the size of the canton of Zug, which would carry up to 15% of Australia's coal exported today (as of 2019), making it one of the largest coal mines in the world. In addition to criticizing coal as a fuel, critics fear irreversible damage to the Great Barrier Reef, an already endangered UNESCO World Heritage Site, and severe damage to the local ecosystem and groundwater supplies. Thus, the local indigenous population also resisted the project on their land. Nevertheless, this was approved by the authorities in Queensland in June 2019.

Financial risk: We estimate a medium-high financial risk for the company.

Given the likely construction of the mine, the dialogue focuses on preventing potential harm. The goal of the engagement is clear measures by the company that include the rights of indigenous peoples and prevent negative environmental impacts from the mine.

It took a year before the company was ready for dialogue. However, the company has since confirmed that it is in dialogue with indigenous groups, that it is creating jobs and that it is commissioning local orders. Programs to protect groundwater and biodiversity have been published. Talks are currently continuing to examine the substance of these programs.