Adani defers Australian Carmichael coal project investment decision
Adani Enterprises defers decision of investment on the Carmichael coal project as the Queensland government is yet to make a decision on royalties for the project
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Melbourne: Adani Enterprises has deferred a final investment decision (FID) on its long-delayed Australian Carmichael coal project, as the Queensland state government has yet to sign off on a royalty agreement for the mine, an Adani spokesman said on Monday.
“Adani is advised that the Queensland cabinet did not consider any submission or make a decision on royalties for the Adani project today,” Adani’s spokesman in Australia said.
“In light of that, Adani has today deferred a decision by the board on FID until the government makes a decision,” he said.
The company had been planning to make a final investment decision on the 25 million tonnes a year coal mine and rail project by the end of May. Reuters