Adani working with Qld govt to finalise royalties deal
ADANI says it is continuing to work with the State Government to finalise a deal on coal royalties to Queensland taxpayers after Monday's deadline for the agreement was missed.
A spokesman for Treasurer Jackie Trad confirmed on Monday that negotiations for the agreement on Adani's Carmichael mine were still underway.
"Adani has advised the commencement of construction of the Carmichael mine is not dependent on the finalisation of the Resources Regional Development Framework negotiations," the spokesman said.
An Adani Mining spokeswoman said details of the agreement are commercial in confidence.
"We are continuing to work with the Queensland Government to finalise the royalties agreement," the spokeswoman said.
"The Co-ordinator General set this time frame following consultation with Adani Mining and relevant Queensland Government representatives."
Last week, some commentators described the deal as a "closely guarded secret".
Energy analysts also speculated the deal would allow the Indian mining giant to defer royalty payments for seven years, equivalent to $900 million.
The LNP has called on the State Government to put all royalties from the Galilee Basin into the Queensland Infrastructure Fund.