Adani hopes to start Australian coal mine project by August

Adani hopes to start Australian coal mine project by August

THE LATEST campaign by activists seeking to derail Adani's proposed Queensland Carmichael Coal Project has again missed the point by using the signatories of dozens of successful, well-paid Australian identities to argue against a project that would significantly benefit the less fortunate.

Cricket legends Ian and Greg Chappell and few other prominent Australians have written to Adani Group Chairman Gautam Adani urging him to abandon the Dollars 21 billion mine project, a plea the company rejected as "motivated" by a very small group "misled" people.

Calls and emails requesting comment from Queensland officials on the delegation and letter of opposition being delivered to Adani were not answered.

The Adani board is expected to approve the project next month, with construction then likely to begin in August this year.

Adani, who is valued at $6.2 billion according to the Bloomberg Billionaires Index, said the group is eligible to tap the government's Northern Australia Infrastructure Fund for half of the project's debt requirement.

Palaszczuk too sounded positive about securing the pending federal approvals soon as her country's national parliament is in session now and is keen to begin a debate on the project.

"Most of the approvals have gone through", Annastacia Palaszczuk, premier of Queensland said in Mumbai on Friday, with Adani present during the briefing.

He said they are going to tie-up with commercial banks for most of the loans and only leftover or the maximum 50 per cent of this facility will be drawn upon.

The company has almost halved the first phase of the mining project to 25 mt per annum from the original plan of 40 mt, he said. Production will eventually be expanded to the planned 40 million tonnes, he added. "The Great Barrier Reef is already at risk from coral bleaching, and ships taking coal is just not the right thing to do", he said, adding that a medical journal Lancet has also said that the project poses "serious risk to public health".

The Adani group issued a media statement, calling it a "motivated exercise".

The company also said the project will provide "much needed job opportunities" and generate around $22 billion in state mining taxes and royalties in the first half of the 60-year project life.

"Australians do not want this coal mine and will continue to fight it tooth and nail".

"I've got such a situation in regional Queensland where people are hurting, families are hurting, because they don't have employment with the downturn in the resources sector", she said.

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