Over the19 years between 2011 and 2030 Gunns assessment of the benefit to Tasmania from the construction of a pulp mill is $10 billion.
This should be compared with the return on investing $2.3 billion over the same 19 year period at an interest rate of 7.5 % which returns $9.52billion ...
Download calculation: Interest_calculation.pdf
Therefore, for all the corruption of process, anguish, annoyance, dead-in-the-water politicians, bankrupt forestry companies and individuals whose reputations have been destroyed, this massive mill returns no more into the community than putting the money on deposit at the local branch of your bank.
This project only stacks up if the Government is the prime funder, lender of last resort or provider of guarantees using taxpayer money.
Gunns is nearly nearly an insolvent company, has no money or unpledged assets to obtain any equity in the project; as a result all the profits in the form of interest will go overseas as no Australian banks will lend to this now utterley toxic project.
Forest actions expand to highlight community fears
Tasmanian forest campaigners are expanding a proactive anti-logging campaign today, halting operations in two high conservation value areas to highlight the community impacts of destroying native forests.
Fifteen activists from the Huon Valley Environment Centre are halting logging operations in coupe EP031B, an area of old growth forest below Adamson’s Peak, near Dover. Five activists are attached to machinery including well known campaigner and local mother of two Jenny Weber. In the iconic Styx Valley, 14 activists from Still Wild Still Threatened have established a tree sit to stop logging in coupe SX028C, an area of old growth eucalyptus regnans forest.
The actions are part of a proactive campaign by grass-roots environmentalists to prevent further degradation of Tasmania’s ancient forests after the deadline for a promised moratorium was missed on March the 15th.
“The logging and burning of these high conservation value forests will hurt Tasmanian communities,” spokesperson Will Mooney said.
“The huge logging burn-offs that are polluting our skies again this autumn demonstrate the public health risks arising from native forest logging. Logging our high conservation value forests damages water catchments, threatens valuable biodiversity and causes massive losses of carbon into the atmosphere, ” Will Mooney said.
“Every day that Forestry Tasmania and logging industry interests attempt to sabotage a solution to the crisis in our forests, communities continue to be confronted with the devastating impacts of rampant native forest logging,” Will Mooney said.
“The Huon Valley Environment Centre and Still Wild Still Threatened will work pro actively to prevent destructive logging. We are calling for a full and true moratorium on all high conservation value areas,” Will Mooney said.