Queensland Government signs deal to allow Adani to defer royalty payments for unspecified period
- FTT Creations
- Oct 1, 2020
- 1 min read
The Queensland Government has signed a deal with mining company Adani to defer payment of royalties on its Carmichael mine in central Queensland for an unspecified period of time.
Treasurer Cameron Dick revealed today the Government had locked in a deal with Adani this week.
The deal with Adani is the second agreement reached in Queensland that allows a resources company to defer its royalties payments.
Mr Dick said both when the company would start to pay royalties and how much revenue the state would collect were commercial in confidence.
Mr Dick said the deal set out how much the controversial $2 billion Carmichael mine is required to pump into the Queensland economy, once the mine is up and running.
The agreement is more than a year overdue, which the Treasurer said was the result of negotiating a good deal.
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