Carmichael clambering over last hurdles
Adani has reached some key agreements on its $AU16.5 billion Carmichael coal mine and rail project.
The big build is closer than ever, after Adani reached final compensation agreements with landholders in the Galilee Basin of central Queensland.
The deals come after almost six years of environmental assessments and legal battles, and are some of the last hurdles stopping State Development Minister Anthony Lynham from issuing the permits.
The compensation agreements were struck late last week with the Isaac Regional Council and a cattle station.
India’s Adani Group has faced almost unprecedented opposition to its attempt to build Australia’s largest coal mine.
Organisations ranging from the United Nations to community green groups say there should be no more big coal projects.
The vocal opposition has put off banks that might have loaned money to the project, and environmental issues have forced environment minister Greg Hunt to impose what he calls “the strictest conditions in Australian history”.
Since it was first proposed in 2010, the backers have maintained a pledge to produce about 60 million tons of coal a year, and has already signed up buyers for about 70 per cent of the 40 million tonnes that Carmichael is due to produce in its first phase, late 2017.