Adani finalises $12.5bn deal for Isaac Regional Council Carmichael coal project, Australia

23 February 2016 (Last Updated February 23rd, 2016 18:30)

Indian mining firm Adani has finalised a compensation deal with Isaac Regional Council, clearing another hurdle for its $12.5bn Carmichael coal mine in the north of Galilee Basin, Australia.

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Indian mining firm Adani has finalised a compensation deal with Isaac Regional Council, clearing another hurdle for its $12.5bn Carmichael coal mine in the north of Galilee Basin, Australia.

Isaac regional mayor Anne Baker said that Adani and council have worked together to ensure a positive outcome.

Baker said: "This compensation agreement fundamentally provides Adani with access to council roads and reserves integral to the project while maintaining public access.

"It's essential our communities and our businesses benefit from the Carmichael project.

"Both parties are committed to commencing negotiations on the next and important step, the infrastructure agreement."

"Both parties are committed to commencing negotiations on the next and important step, the infrastructure agreement."

Baker said that the agreement will determine the extent of infrastructure works and maintenance over the mine life.

The project is facing opposition from various environmental groups, which claim it could threaten the World Heritage-listed Great Barrier Reef.

Adani CEO Jeyakumar Janakaraj said: "Working together with Isaac Regional Council, the project is moving one step closer to delivering long-term benefits to Queensland, while helping deliver higher quality, lower emitting coal that will help alleviate energy poverty in India."

Earlier this month, Adani secured an environmental permit from the Queensland Department of Environment and Heritage Protection (EHP) for the mine project with around 140 conditions.

Greenpeace Australia claimed that the mine is expected to release 121 million tonnes of greenhouse gases into the atmosphere each year and ship 60 million tonnes of coal directly through the Reef once it starts full production.


Image: Satellite image of part of the Great Barrier Reef adjacent to the Queensland coastal areas of Airlie Beach and Mackay. Photo: courtesy of Nasa.