Indian mining giant Adani has today decided to go ahead with their deal with the Queensland government to invest $16.5 billion in the state’s Carmichael mining projects – despite strong public opposition.
The company’s board decided to ‘indefinitely postpone’ their decision on the investment in May to try and pressure the state government into putting forward a more attractive deal on mine royalties.
An MMA poll, conducted last week with 652 of our readers, found that 70% were in favour of the call made by the Adani board to postpone the deal.
Despite the Labor government in Queensland choosing not to capitulate to their demands, the Adani board has decided to go ahead with the deal.
However, significant public opposition to the project remains in play.
Gautam Adani, the company’s chairman, cited being “challenged by activists in the courts, in inner-city streets, and even outside banks that have not even been approached to finance the project.”
He has also yet to confirm whether or not Adani has secured a loan for the project’s rail infrastructure aspects.