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Adani timeline adjusted for royalty

1st October 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The Queensland government and Indian major Adani have extended the target date to conclude a royalty deferral and repayment agreement for the Carmichael coal mine.

The agreement is now targeted for completion by the end of November this year.

Deputy Premier and Treasurer Jackie Trad said this week that the royalties deferred under the agreement would have to be repaid in full, with interest, and with security of payment in place.

The precedent for a royalties deferral and repayment agreement was set in August this year, when New Century concluded an agreement for its zinc mine in the North West minerals province.

Adani has meanwhile said that the start of construction at Carmichael would not be dependent on the finalisation of the Resources Regional Development Framework negotiations.

Edited by Creamer Media Reporter

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