Adani promised Australia billions from its Carmichael mine but it hasn’t paid a cent in tax. How did we get here?

The coalmine generated millions in revenue in its early days but recorded an operating loss – a pattern that would repeat at scale

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It was entirely foreseeable, and has resulted in billions of dollars in forgone revenue for Australia.

But just how did policymakers fail to extract a single cent in company tax from Adani’s Carmichael coalmine, even though it opened during the start of a commodity price boom?