Construction works are imminent at the Carmichael mine and rail project after AMMA member Adani Australia announced it would proceed entirely self-funded.
AMMA welcomed the confirmation of the project going ahead, delivering jobs and economic opportunities throughout central Queensland.
Fully self-financed, the Carmichael mine and rail project will provide much more than a short-term injection of jobs and opportunities for small and medium businesses in Queensland.
“With an operating life of up to 90 years, it will deliver significant long-term economic value and support new community infrastructure via state royalty revenue streams,” AMMA Chief Executive, Steve Knott AM, said.
“The project will also provide much-needed affordable electricity to many in need in India.
“After already investing $3.3 billion into its Australian operations, Adani should be congratulated for reaching this latest milestone and ensuring the Carmichael project will go ahead without a cent of taxpayer assistance.
“It has not been an easy road for the company, with eight years of approvals processes, legal challenges and disruption from misguided activist groups seeking to derail its progress.
“Having now overcome the final hurdle and demonstrated that the Carmichael mine and rail is a commercially and environmentally sustainable, stand-alone project, it is time for Australia to get behind Adani as it moves toward the construction phase.”
The Carmichael mine and rail project is expected to create about 1,500 direct jobs during construction and countless flow-on opportunities through the supply chain.
Resources Minister Matt Canavan congratulated the company on its focus and commitment to the project in the face of longstanding, ill-informed protest activity.
“Adani’s ability to re-scope and finance its Carmichael mine and rail project proves it is a viable, job-creating concern which stands on its own two feet financially and environmentally,” Minister Canavan said.
“This type of commitment is the hallmark of Queensland’s resources sector, which has a well-earned reputation of being the powerhouse of Queensland’s economy.
“Great communities like Townsville, Bowen, Mackay, Rockhampton, Gladstone, the Central Highlands and dozens of others have prospered because of the mining sector. Queenslanders are looking forward to projects such as the Carmichael mine reinvigorating those towns and others once again.”
Minister Canavan said communities throughout regional Queensland would also welcome the news.
“The Carmichael project has the potential to create more than 7,000 new jobs in Queensland – a remarkable contribution to our regional and state economies,” he said.
“Last financial year the sector poured $62.9 billion into Queensland’s economy and was responsible for more than 54,000 fulltime jobs.