Australian Prime Minister Malcolm Turnbull (right) meets with India's Adani Group founder and chairman Gautam Adani in New Delhi, India.
Australian Prime Minister Malcolm Turnbull (right) meets with India's Adani Group founder and chairman Gautam Adani in New Delhi, India. MICK TSIKAS

Key project for Rocky’s future back on track after delay

ADANI Australia yesterday reached agreement with the Queensland Government on royalty payments for its $16.5 billion Carmichael coal projects.

A statement from the mining giant said the agreement with the State Government "met Adani's expectations and requirements".

Adani said the agreement showed a strong commitment by the State Government to the project and was a benchmark decision to move forward.

"I thank the Premier, Annastacia Palaszczuk, and the elected members of the State for their continued support to make this happen," Adani Chairman Gautam Adani said.

"I also wish to thank the Prime Minister, Malcolm Turnbull, and Opposition Leader, Bill Shorten, for their support for the changes to the Native Title Bill."

The royalties arrangement means the project is back on track to generate 10,000 direct and indirect jobs in regional Queensland.

The Adani parent company Board will consider the Final Investment Decision at the next board meeting.

The project involves a first phase mine production of 25 million tonnes per annum, and construction of a 388-kms standard gauge open access, common user rail line.

Peak mine production in later phases will rise to 60 mtpa.           



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