Published: May 24, 2017 |

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Senior Queensland Government members were in meetings on Monday night, discussing how to urgently convince Indian company Adani to proceed with a board meeting to fund the proposed Carmichael coal mine.

The mining giant has postponed its final investment decision on the $16.5-billion project in central Queensland until the State Government gives “clarity” over lower or deferred royalties.

A company spokesman said they were waiting for the State Government to advise on whether it would offer a lower royalty rate or deferred royalties.

The Adani board was to meet in India next week for final approval but has postponed the meeting.

The State Cabinet on Monday discussed whether to give Adani a royalty discount or deferral, but no decision has been made.

The ABC revealed last week the move could cost up to $320 million in lost royalties to Queensland.

On Monday afternoon, Premier Annastacia Palaszczuk would not be drawn into revealing what was discussed in Cabinet.

The proposed royalty deal is understood to have caused division among Labor factions.

Deputy Premier Jackie Trad and Roads Minister Mark Bailey, from the Left faction, have publicly opposed any government subsidy of the mine and said that had been Labor’s position since before the 2015 state election.

However earlier on Monday, Agriculture Minister Bill Byrne said royalty arrangements were being considered by the Government.

“Queensland Labor has always taken a sensible and prudent approach to resource development,” he said.

GOVERNMENT INDECISION HAS PUT PROJECT AT RISK:  OPPOSITION

After criticizing the Government for considering royalties last week, the Opposition on Monday was criticizing it for indecisiveness.

Opposition Leader Tim Nicholls said the Government’s had put Adani’s multi-billion-dollar investment at risk.

“Labor should have come up with a decision and they’ve failed to do so,” he said.

“But their failure to come to a decision, their bitter internal divisions, their desire to say one thing in north Queensland and another in the south east, has led to the situation where Adani now is deferring its investment decision, and must be seriously wondering whether under this Labor Government the project should go ahead.

“[The Queensland Government] delayed and deferred it and the people that are paying the price are the Queenslanders that are looking for jobs in this sector.”

Just four days earlier, shadow treasurer Scott Emerson said it was “extraordinary” the Government was looking at “doing a secret deal” to benefit one company.

Source: (May 22, 2017) ABC.net

To stop by Adani’s website, CLICK HERE

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