$16.5 billion Carmichael mine gets go-ahead in Australia

By Stuart Hodge
Indian mining giant Adani has announced that construction of the $16.5 billion Carmichael rail and port project will now take place in Queensland. The...

Indian mining giant Adani has announced that construction of the $16.5 billion Carmichael rail and port project will now take place in Queensland.

The deal is described as “the largest single investment by an Indian corporation in Australia”.

Adani CEO Jeyakumar “JJ” Janakaraj said: "the Project will deliver vital export opportunities for Queensland, create 10,000 local jobs, garner $22 billion in taxes and royalties, and provide crucial work opportunities for small and medium-sized businesses.”

The Australian government says the mine, which is expected to be Australia's biggest, will generate investment but environmental activists have criticised it heavily.

In a statement, Chairman Gautam Adani said: "We have been challenged by activists in the courts, in inner-city streets, and even outside banks, we are still facing activists. But we are committed to this project."

Adani added that construction of the Carmichael mine project will begin in late 2017.

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