The Commonwealth Bank's role as adviser to the controversial Carmichael coal mine in Queensland has ended, dealing another blow to the beleaguered project.
The bank's financial advice mandate with Indian mining giant Adani has ended, following a Federal Court ruling that overturned the approval of its coal mine.
"As part of Adani's refocusing of the project on gaining the various outstanding approvals, the financial advisory mandate has ended," a Commonwealth Bank spokesman told AAP on Wednesday.
The termination of the agreement puts another roadblock in the project's path after environmentalists declared victory when the Federal Court ruled the coal mine's approval was invalid.
Environment Minister Greg Hunt conceded to the court he failed to properly assess the project.
In a statement Adani said the "technical legal error" from Minister Hunt's office meant he would now have to reconsider their application.
Environmentalists celebrated both the court ruling and the Commonwealth Bank's conclusion of its mandate with the mining giant.
"The decision comes on the back of a growing public campaign," a GetUp spokesman said in a statement.
"CommBank join eleven other international banks that have pulled out of the project."
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