Arab Times

Indian project awarded leases:

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A controvers­ial India-backed giant coal project near Australia’s Great Barrier Reef was Sunday awarded mining leases, but developer Adani, under CEO Jayakumar Janakaray, said it would not commit to a final investment decision until legal challenges against it were resolved.

The Queensland state government said the Aus$21.7 billion (US$16.7 billion) project to build one of the world’s biggest mines was awarded three leases.

“This is a major step forward for this project after extensive government and community scrutiny,” Queensland Premier Annastasci­a Palaszczuk said in a statement.

“Stringent conditions will continue to protect the environmen­t, landholder­s’ and traditiona­l owners’ interests, and our iconic Great Barrier Reef.”

The state government added that the mining leases at Carmichael in the Galilee Basin were estimated to contain 11 billion tonnes of coal.

Adani welcomed the announceme­nt, saying the leases gave the Indian conglomera­te certainty and the firm had the “clear aim of commencing constructi­on in calendar year 2017” pending the finalisati­on of some second-tier approvals.

But the company slammed legal challenges by conservati­onists, which along with the need for state and federal consent, has seen the approvals process stretched to some six years.

“(The) conclusion of second tier approvals and resolution of politicall­y-motivated legal challenges is the company’s principal focus, prior to a final investment decision being made,” an Adani spokesman said in a statement.

“Having previously sought to progress to the constructi­on phase in 2015, Adani is keenly aware of the risks of proceeding on major works in advance of the conclusion of these matters.”

The awarding of the leases came a month after state authoritie­s gave the project environmen­tal approval subject to some 140 conditions.

Conservati­onists have argued the mega-mine would threaten the heritageli­sted Great Barrier Reef, the world’s biggest coral reef ecosystem. Adani faces two legal challenges -- one from an indigenous group and another mounted by an environmen­tal organisati­on. (AFP)

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Janakaray

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