Adani was due to make a final investment decision on 29 May for the Carmichael mine, but deferred that on Monday citing uncertainty over royalty payments. Photo: Pradeep Gaur/MintSydney: India’s Adani Group could walk away from its $16.5 billion Carmichael coal project in Australia unless a royalties deal can be reached with the state government, according to federal resources minister Matthew Canavan. Adani’s approval for the project “is contingent on the Queensland government coming to a decision on their royalties policy”, Canavan said. “You can’t expect Adani to make a multi-billion dollar decision if they don’t know what tax they will pay. Gautam Adani, the billionaire chairman of Adani, said in March it could start mining coal from Carmichael in 2020.

Source: Mint May 24, 2017 03:33 UTC