CQ MP: Adani Carmichael mine is still going ahead

CENTRAL Queensland MP George Christensen says an Adani executive told him this week the company's $16 billion Carmichael coal mine investment was still going to go ahead.

Mr Christensen said he met with Adani executives during a closed door meeting with conservative MPs in Canberra on Wednesday.

On Thursday, an Indian stock exchange report from analysts Axis Capital showed the parent company, Adani Enterprises, had put the mine on hold pending a rise in global coal prices.

But Mr Christensen said the company told him this week they were still going ahead with the project, and that its multi-billion dollar investment in the mega-mine was not beholden to coal prices.

"If it had been BHP or any other coal company, with coal prices the way they are and all the legal activism against the project, I would say they would be pulling out," he said.

"But this is a different kettle of fish - it's a vertically-integrated project to provide coal for Adani's Indian power stations - they need the coal to supply India's energy needs."

Mr Christensen said he did not believe there was a contradiction between what the Axis Capital report said, based on briefings by Adani Enterprises to the analysts, and what the company told him this week.

While a spokesman for Adani has not responded to APN's questions, Adani Australia chief executive Jeyakumar Janakaraj told the ABC the company remained "absolutely committed" to the project.

Mr Janakaraj told ABC it was "important to remember that these (timelines) factor in when final approvals from government are likely to be given".

Greens Senator Larissa Waters said given the analyst's report and "that the coal industry is in structural decline", she believed the project was a "white elephant".

The company still needs to meet the requirements of three mining licences, including talks with landholders, as well as court challenges to the mine, while it has not made a final investment decision regarding the Carmichael project.

 - APN Newsdesk



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