Antinuclear

Final investment decision postponed by Adani, regarding Carmichael coal mine

Adani indefinitely postpones final investment decision on Carmichael coal mine, ABC News, 23 May 17  Senior Queensland Government members were in meetings on Monday night, discussing how to urgently convince Indian company Adani to proceed with a board meeting to fund the proposed Carmichael coal mine.

The mining giant has postponed its final investment decision on the $16.5-billion project in central Queensland until the State Government gives “clarity” over lower or deferred royalties.

A company spokesman said they were waiting for the State Government to advise on whether it would offer a lower royalty rate or deferred royalties.

The Adani board was to meet in India next week for final approval but has postponed the meeting.

The State Cabinet on Monday discussed whether to give Adani a royalty discount or deferral, but no decision has been made…….

The proposed royalty deal is understood to have caused division among Labor factions.

Deputy Premier Jackie Trad and Roads Minister Mark Bailey, from the Left faction, have publicly opposed any government subsidy of the mine and said that had been Labor’s position since before the 2015 state election.

However earlier on Monday, Agriculture Minister Bill Byrne said royalty arrangements were being considered by the Government…….

Greens, activists accuse Adani of bullying

Queensland Greens senator Larissa Waters said the mining company was trying to bully the State Government into handing over $320 million in free coal.

“So far, Adani is in line for a $1 billion handout, unlimited free water, new legal loopholes, special changes to Native Title, a free pass on reef destruction,” she said.

She called on the Queensland and Federal Governments to abandon their support for the project.

Activist group Get Up said if Adani could not afford the project without a royalty holiday, it was not financially viable. http://www.abc.net.au/news/2017-05-22/adani-indefinitely-postpones-final-carmichael-coal-mine-decision/8548164

May 24, 2017 - Posted by Christina Macpherson | politics, Queensland