ADANI DIGS NQ
Indian miner poised to approve $ 16.5b Carmichael project
ADANI’S board is poised to give its massive Carmichael coal mine the green light as government leaders and stakeholders gather in Townsville today for a guarded announcement.
The Bulletin understands the $ 16.5 billion decision could have been made as early overnight in India.
Premier Annastacia Palaszczuk will travel to Townsville today for the opening of Adani’s city office, where it is understood the company will make “important announcements” about contracts, the mine and its rail projects.
THE BULLETIN UNDERSTANDS THE $ 16.5 BILLION DECISION COULD HAVE BEEN MADE AS EARLY AS OVERNIGHT IN INDIA
INDIAN mega miner Adani’s board is poised to give its massive Carmichael coal mine the green light as government leaders and stakeholders gather in Townsville today for a guarded announcement.
The Bulletin understands the $ 16.5 billion decision could have been made as early as overnight in India. Premier Annastacia Palaszczuk will travel to Townsville today for the opening of Adani’s office, where the Bulletin understands the company will make “important announcements” re- garding contracts, the mine and its rail projects.
Adani was expected to announce a major deal to the Indian stock exchange overnight.
Conspicuous signage on the Tomlins St office in South Townsville was unexpectedly erected late last month.
The company had initially planned to move into a space on Walker St but in March the decision was made to move into River Quays, known as the Telstra building.
The new office is expected to welcome about 500 employees in coming months as the company discusses the mine’s planning and development.
It comes after a factional split within Labor cast shadows over the mine’s future when Deputy Premier Jackie Trad failed to declare her support and led a factional revolt.
The Palaszczuk Government last week finalised a royalties requirement for all greenfield coal, mineral and gas projects in the Galilee and Surat Basins and North West Minerals Province.
All future mines would have to pay royalties with interest if any payments were deferred.
The Premier’s visit today comes exactly six months after she met with Adani chairman Gautam Adani in Townsville, when he confirmed no 457 visa workforce would be engaged at the mine and that its head office would be in Townsville.
At the weekend, Adani again confirmed 10,000 jobs would be created by the mine through permanent direct employees and through massive flow- on effects.
Adani maintains 4000 people would be required for the rail line construction alone.
OneSteel in Whyalla has already secured a major contract with the company, which will now supply steel to the mine.
Austrak in Rockhampton won a concrete deal for the mine’s rail project on Friday.
Native title clearance is scheduled to be discussed at the next Senate sitting later this month.
Federal Resources Minister Matt Canavan is also expected to travel to Townsville today.