Adani has hit back at claims that Commonwealth Bank has dropped its support for the mining giant’s Carmichael Coal Mine project saying the separation was “mutual”.
The central Queensland coal project was overturned in Federal Court earlier this week, causing a huge stir in the Queensland mining industry.
“Adani is committed to ensuring its mine, rail and port projects in Queensland are developed and operated in accordance with Commonwealth and State laws and regulations, including strict environmental conditions,” a statement from the company said.
“Adani acknowledges the Federal Environment Minister has consented to remake the July 2014 environmental approval decision for the Carmichael Coal Mine and Rail project after a conservation group’s judicial review application.
“It is regrettable that a technical legal error from the Federal Environment Department has exposed the approval to an adverse decision. It should be noted the approval did include appropriate conditions to manage the species protection of the yakka skink and ornamental snake.”
The company said they will “await the Minister and his department’s timely reconsideration” of its approval application under the Commonwealth Environment Protection and Biodiversity Conservation (EPBC) Act.
“Adani is confident the conditions imposed on the existing approval are robust and appropriate once the technicality is addressed,” the company statement said.
“Adani is in the fifth year of development and approvals and the need to finalise these approvals and timelines is critical so Adani and the community can realise the benefits associated with its investments to date including 10,000 jobs and $22 billion in taxes and royalties to be reinvested back into the community.
“For the past six to 12 months, Adani has maintained a level of investment and project timelines based on anticipated approvals timelines and milestones. As a result of changes to a range of approvals over that time it’s necessary our timelines and budget reflect those changes.”