The chairman of Indian mining giant Adani claims the company will go ahead with the Carmichael Mine in Queensland, although environmentalist opponents aren't so sure.

"We have been challenged by activists in the courts, in inner city streets, and even outside banks that have not even been approached to finance the project," said Indian billionaire Gautam Adani.  "We are still facing activists.  But we are committed to this project."

Mr. Adani spoke of creating 10,000 jobs, and awarding sub-contractors the riles of designing and building the giant mine in QLD's Galilee Basin.

But the Stop Adani Alliance - a coalition of 20 environment groups - labelled the announcement a "con" because Mr. Adani didn't confirm any details of financing the project, nor obtaining a loan for critical rail infrastructure. 

"Adani is yet to lure any financial institutions willing to bankroll the project, which is proving hugely unpopular with the Australian public. Without this support and public subsidies, the heavily leveraged balance sheet of Adani Enterprises leaves no internal capacity to fund this $5 Billion project proposal," said Geoff Cousins, spokesman for the Stop Adani Alliance.  "If the federal government hands Adani $1 Billion of public money for this destructive mine that will destroy our reef, we will consider all avenues, including legal action, to stop it."

Environmental advisory firm Market Forces also believes Adani's announcement was an empty gesture.

"Announcing an intention to invest is a far cry from having the finance to do so," said Executive director Julien Vincent.