Adani eyes other sites for mining

GLOBAL infrastructure company Adani is scouting the world looking for coal, as its Carmichael megamine in central Queensland remains without financing and faces a growing tide of environmental and political opposition.

Tensions between the State Government and the industry are also increasing after the rejection this week of environmental approval for the Acland coal mine expansion in southeast Queensland.

The decision has cost the company $ 158 million so far as investors sold off the stock in the past two days.

Adani said yesterday the search was not for a replacement for the Carmichael, which would become one of the world’s biggest coal mines if it ever reached the size of the original proposal.

But it did confirm it was looking to buy mines in countries including Indonesia, where it already owns and operates a mine that supplies coal to Indian power stations.

The Indonesian coal “dirtier” than Australia’s.

Rajendra Singh, chief operating officer of Adani’s coal trading business, said Asian countries were increasing demand for coal.

Queensland Council chief is Resources executive Ian Macfarlane said the Government had a greater interest in chickpeas than mining.

He said he had been unable to secure a meeting with Premier Annastacia Palaszczuk and Treasurer Jackie Trad.

“At an end- of- year function the Premier talked about chickpeas but not resources,” Mr Macfarlane said.

He pointed out that in a statement released yesterday on the Government’s priorities for 2018 there was no mention of the resources sector, although mining was mentioned by the Premier in her speech to Parliament.

It follows the Palaszczuk Government’s vetoing of the Federal Government loan to Adani and this week’s rejection of an environmental authority for the Acland expansion.

“We wrote to both the Premier and the Treasurer in December requesting a meet- ing to discuss issues in the resources sector relating to their portfolios. The Treasurer rejected the offer and the Premier is yet to confirm,’’ Mr Macfarlane said.

But the Government said the Premier knew and respected Mr Macfarlane and had wanted him to accept the role of inaugural Resources Investment Commissioner last year.

Opposition Leader Deb Frecklington said Ms Palaszczuk’s decision to refuse an environmental authority for the Acland project was the likely death knell for up to 700 local jobs.

“I’m incredibly disappointed on behalf of the people of Oakey and the Darling Downs that the Palaszczuk Government hasn’t done what it said it would do and respected the judicial process underway for the Acland project,” Ms Frecklington said.