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Australia offers Adani 'royalties holiday' on coal mine project: Report

However, Adani spokesperson said no such agreement with Queensland was signed so far

Press Trust of India  |  Melbourne 

The Queensland government has offered Indian mining giant Adani a deal that would result in it paying just A$2 million a year in royalties on its proposed Carmichael coal mine project in Australia, according to a media report. The so-called "royalties holiday" for the proposed A$21 billion Galilee Basin facility would expire after seven years and could cost taxpayers A$320 million in lost revenue, ABC News reported. However, rejecting the claim, Adani Australia spokesperson said no such agreement with the state was signed so far. The ABC report claimed that the agreement ...

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First Published: Thu, May 18 2017. 16:16 IST
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