Adani pushes ahead with Carmichael mine
A LAST minute legal bid will not prevent Adani Australia from pushing ahead with the construction of its Carmichael mine in central QLD, with the company opening expressions of interest on 4 December.
The Indian energy giant announced it would 100 per cent finance the scaled-down mine and rail project on 29 November, opening it up to begin construction before Christmas.
Adani Australia chief executive Lucas Dow said work in recent months had culminated in the miner’s approval of the revised project plan that de-risked the initial stages of the mine and rail project by adopting a narrow gauge rail solution combined with a reduced ramp up volume for the mine.
“This means we’ve minimised our execution risk and initial capital outlay,” Mr Dow said.
“The sharpening of the mine plan has kept operating costs to a minimum and ensures the project remains within the first quartile of the global cost curve.”
Mr Dow said Adani would now begin developing a smaller open cut mine comparable to many other QLD coal mines, and would ramp up production over time to 27.5 million tonnes per annum.
The following week, environmental activists launched a legal challenge to a Federal Government decision to bypass an impact assessment of planned water use by Adani, in a bid to prevent construction of the mine, which has become a lightning rod for environmental activists.
However an Adan spokesperson said the legal action would not stop construction, and that Adani did not need the North Galilee Water Scheme finalised to begin work on the project.
“Adani will continue to deliver the Carmichael project, and we will do so in line with our approvals, along with the strict regulations and legislation that govern our Australian resources industry,” the spokesperson said.
“Adani has been through a rigorous and strict approvals process over the last eight years and we have met all of those requirements.
“Accordingly, we now expect that we will be treated no differently to any other Australian miner.”