Adani royalties deal struck: Every dollar to be paid, with interest

The Palaszczuk Government has finally struck a royalties deal with Adani for its controversial Carmichael coal mine, with Treasurer Cameron Dick insisting the miner will pay every dollar that is owed to Queenslanders through the deal, and with interest.

The Palaszczuk Government has finally struck a royalties deal with Adani for its controversial Carmichael coal mine.

Treasurer Cameron Dick said the Government had settled the terms for the agreement this week.

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He insisted the miner would pay every dollar that is owed to Queenslanders through the deal, and with interest.

“I can confirm that the Queensland Government has settled terms for a royalty agreement under the resource regional development framework with Adani,” he told reporters in Mackay today.

“These terms are consistent with the resources regional development framework that formed the basis of the royalties agreement with the Century Zinc mine last year.

“It’s absolutely consistent with that.

“But I can assure you that Adani will pay every dollar in royalties that they have to pay to the people of Queensland and the taxpayers of Queensland with interest.”

The deal has been slammed by the Greens, with Maiwar MP Michael Berkman accusing the Government of giving Adani a “tax break with a royalties holiday.”

“We don’t need more coal mines, we need investment in manufacturing, public housing and publicly owned renewable energy,” he said.

“Labor and the LNP are on a unity ticket when it comes to handing tax payers’ money over to Adani.

“The only way to stop Adani is by voting Greens.”

The deal comes less than a week from when the State Election campaign officially kicks off where both parties are expected to target several regional seats.

Labor has been spruiking its commitment to the resources industry this week across the regions, including announcing the final approvals for the Olive Downs coal mine.

Adani received its final approvals from the Government in June last year for the scaled-back $2 billion project.

It followed a nine-year battle to get the central Queensland mine off the ground, following intense backlash from Greens groups.

Asked why the deal took so long, Mr Dick said the Government spent a lot of time negotiating royalties agreements for a variety of mining projects.