When Indian energy company Adani found out a little over a year ago it was being blocked from receiving a potential $1 billion loan from the federal government's $5 billion Northern Australian Infrastructure Facility, it was the financial equivalent of being cut off at the knees.

Although the controversial project had been held up by endless legal challenges from environmental activists over the past eight years, the company believed it was finally on track to deliver the $16.5 billion Carmichael mine in Central Queensland.