USD 10 Billion Coal Boom for Queensland

From Coal Guru

AAP reported that Australian officials are in India to formalize a deal for the largest and most comprehensive coal mining exploration program undertaken in Australia.

Mr Martin Ferguson minister of Federal Resources and Queensland Premier Mr Campbell Newman travelled to the sub continent for the announcement by Indian based infrastructure company The Adani Group that it’s ready to proceed with a multi billion dollar mining project in the Galilee basin.

The Adani Group has completed a comprehensive geotechnical field investigation to define the coal resource at Carmichael Mine, which at 10 billion tonnes, worth an estimated USD 10 billion makes it the largest coal tenement in the world.

The company said that the project will include the construction of a mine, rail and port infrastructure and create 4000 long term jobs.

Mr Gautam Adani chairman of the Adani Group said that the company’s partnership with Australia and Queensland had been one of exceptional trust, transparency and understanding.

Mr Adani in a statement said that ‘‘Australian industry and the Indian corporates like the Adani Group have some distinctive synergies, which will prove to be of mutual benefit to all in the long run.’’

He said that ‘‘The Adani Group stands committed to setting up world class infrastructure facilities such as a mine, railway and port in Australia.’’

Mr Newman said that India was now a trading ally.

He said that ‘‘As India’s industries continue to grow, so do the opportunities for partnerships between our regions. India has become more to Queensland than a mere trading partner. We are now trading allies.’’

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