Coal news and updates

Adani Enterprises Ltd on Sunday won mining leases for its $16-billion Carmichael coal project in Australia, moving a step closer to starting work at the controversial mine.

Adani secured three leases from the Queensland state government for the coal project which would be the largest in Australia.

On Sunday, Queensland Premier Annastacia Palaszczuk said the minister for state development and minister for natural resources and mines Anthony Lynham approved the grant of three individual mining leases about 160km north-west of Clermont.

“This is a major step forward for this project after extensive government and community scrutiny,” the premier said in a statement posted on the government website.

“Some approvals are still required before construction can start, and ultimately committing to the project will be a decision for Adani. However, I know the people of north and central Queensland will welcome this latest progress for the potential jobs and economic development it brings closer for their communities,” Palaszczuk said.

Adani has estimated the mine, rail and port project will generate more than 5,000 jobs at the peak of construction and more than 4500 jobs at the peak of operations.

The leases --- 70441 Carmichael, 70505 Carmichael East and 70506 Carmichael North --- are estimated to contain 11 billion tonnes of thermal coal. They provide for mining and the development of infrastructure such as haul roads, buildings, workshops, power lines, workers’ camp and pipelines.

“The mine’s environmental authority had about 140 conditions to protect local flora and fauna, groundwater and surface water resources, as well as controls on dust and noise. A further 99 stringent and wide-ranging conditions apply to the rail and port elements of the project,” Lynham said.

Welcoming the announcement, Adani Group founder and chairman Gautam Adani said in a company statement: “Today is an important milestone in our company’s plan to build a long term future with Queensland, and Australia. This final key approval reflects the confidence both sides of politics, at both the national and state level, have in our commitment to delivering major projects that will help drive exports and jobs in Australia, while delivering energy security in India.”

The statement said the company is confident the appeals will be positively resolved in 2016, because of the rigorous approvals process and conditions attached.

“That will then set the opportunity for final investment decisions and construction in 2017. The company will make additional announcements in the coming months regarding progress on the mine at Carmichael,” the statement said.

Source: Live mint