Adani's $16.5 Billion Aussie Mine Rattled by Tax Deal Delay
- Future of Carmichael mine rests with Queensland government
- Indian firm has deferred decision citing royalties uncertainty
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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.
The Queensland government’s failure to agree the terms of the royalty regime for the mine may jeopardize the development in the state’s Galilee Basin, Canavan said in a phone interview on Wednesday. Adani was due to make a final investment decision on May 29 for the Carmichael mine, but delayed that on Monday citing uncertainty over royalty payments.