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Adani may exit US$16.5b Aussie coal project without deal: minister

Queensland's failure to agree to terms of royalty regime seen jeopardising development

Published Wed, May 24, 2017 · 09:50 PM
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Sydney

INDIA'S Adani Group could walk away from its US$16.5 billion Carmichael coal project in Australia unless a royalties deal can be reached with the state government, according to federal Resources Minister Matthew Canavan.

The Queensland government's failure to agree to the terms of the royalty regime for the mine may jeopardise the development in the state's Galilee Basin, Mr Canavan said on Wednesday. Adani was due to make a final investment decision on May 29 for the Carmichael mine, but deferred that on Monday citing uncertainty over royalty payments.

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