Minister for Trade and Investment Andrew Robb today welcomed environmental approval of Adani Mining’s $16.5 billion Carmichael Coal Mine and Rail Infrastructure project in Queensland.
The project involves open cut and underground coal mining in the north Galilee Basin which will produce 60 million tonnes of thermal coal per year as well as 189 kilometres of new rail infrastructure.
“This is an outstanding project that demonstrates the enormous potential that remains in Australian resources and energy in this case coal to help drive continued economic growth and job creation. It will help support the opening of Australia’s first new mineral province in 40 years,” Mr Robb said.
“Adani of India is one of the world’s major companies and their commitment to Australia is a strong endorsement that we are indeed open for business and welcome major foreign investment.”
The project has an estimated 60-year resource value of $300 billion and at full production is projected to add $2.97 billion to Queensland economy each year. It will generate more than 6,000 jobs during the construction and operational phases.
“This project will also make a significant contribution to assisting India’s continued economic development by providing affordable electricity to an estimated 100 million Indians,” Mr Robb said.
“Australia’s resources and energy sector has a very bright future and as a government we are determined to do everything we can to lock in these types of projects which represent decades of prosperity for our country.
“We have a very deliberate strategy to ensure Australia offers the most competitive investment environment possible to companies such as Adani. Repealing Labor’s destructive carbon tax was central to this, along with streamlining project approval processes, cutting red and green tape and committing to record levels of new infrastructure investment.
“The ambitious trade and investment agenda we are pursuing is also particularly important as when you deepen trade relationships new investment inevitably follows.
“Environment Minister Greg Hunt should be commended for the timely, yet thorough and responsible approach he is taking in regard to the assessment of major projects, many of which stalled for years under Labor. The pro-investment attitude of the Queensland state government is also sending a very positive signal to international investors,” Mr Robb said.
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