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pulp mill

The federal government has refused to give the final green light to the $2.2 billion Tamar Valley pulp mill.

In a shock development, federal environment minister Peter Garrett announced in Sydney early this afternoon that he had knocked back three of the required 12 environmental permits for the Gunns pulp mill.

Mr Garrett said federal environmental approval for the proposed Tasmanian pulp mill would not be granted until detailed studies on the potential marine impacts have been completed.

More here.

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gunns.jpgThe proposed mill

Timber company Gunns has admitted for the first time its planned Tamar Valley pulp mill may never be built.

The troubled company announced its annual results on the Australian Stock Exchange on August 28, reporting a net profit after tax of $64.5m for the 2008 financial year.

That represents a drop of about 27 per cent on last year’s result.

The result is also lower than a recent downgraded profit forecast of $67m.

Gunns statement says it is still pursuing finance for its planned $2b pulp mill, but has for the first time admitted it may never be built.

Shares in the company recently slumped by 25 per cent in three days and its price closed at $1.67 before a trading halt was announced last week.

[from ABC News]

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Hydro Tasmania says it cannot guarantee water supplies to the $2 billion Gunns Limited pulp mill.

The news comes as water flows in the South Esk basin plummet because of drought.

As well, Hydro Tasmania has reduced generation and thus water releases from Great Lake.

The level of the lake has dropped to 15.9 per cent of capacity ahead of a weekend of high evaporation because of hot weather.

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Photographs by Matt Newton and Rob Blakers.

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Anti-pulp mill activists will ratchet up their campaign to stop the $1.9billion Gunns project with a boycott of its corporate backers, according to The Mercury.

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