Adani mine: Carmichael coal mine officially pushing ahead
After years of fighting activists and claims the Carmichael coal mine would never proceed, Adani is officially pushing ahead with the multibillion-dollar project. Construction on the mine will start “immediately”, but it won’t be doing so exactly as planned.
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AFTER years of fighting activists and claims the Carmichael coal mine would never proceed, Adani is officially pushing ahead with the multibillion-dollar project.
Adani Mining chief executive officer Lucas Dow today announced the company would use its own funds to finance the first stage of the highly contentious mine.
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The decision comes after Adani reworked the mine’s timetable to ramp up to 27 million tonnes annual production over several stages and announced it would utilise part of Aurizon’s existing narrow-gauge rail network to cart coal to its Abbot Point port.
Mr Dow announced that Adani would fully finance the first stage at the Bowen Basin Mining Club luncheon in Mackay
He told The Courier-Mail the company would begin construction immediately after receiving the final environmental management plans from the State and Federal governments.
“We have already started our plan for mobilisation and the moment we have got those plans from the State and Federal government we will be starting construction,’’ Mr Dow said.
“We are excited about is getting on and delivering the jobs for Queensland.”
Mr Dow said the company had spent eight years gaining environmental approvals only to be beset with misguided court appeals by activists.
“This removes beyond and shadow of a doubt now that this project stakes up environmentally and financially,” he said.
Adani has already invested $3.3 billion to bring the mine to fruition and industry experts estimate the initial stage will cost the company around $2 billion.
The coal initially produced at the Carmichael Mine will be used by Adani’s Indian power stations.
“We will now begin developing a smaller open cut mine comparable to many other Queensland coal mines and will ramp up production over time to 27.5mtpa,” Mr Dow said.
“The construction for the shorter narrow gauge rail line will also begin to match the production schedule.”
Adani’s decision to proceed will create a headache for the Palaszczuk Government which was target by activists during last year’s election campaign over its failure to scupper the Carmichael proposal.
The pressure forced Premier Annastacia Palaszczuk to scrap a Federal loan for the company’s rail line.
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