Australian state defers Adani coal mine royalties ahead of election

MELBOURNE: The Australian state of Queensland has agreed to defer royalty payments for Adani Enterprise’s Carmichael thermal coal mine, the state’s treasurer said on Thursday.

The royalty deferment comes ahead of a Queensland state election set for Oct. 31 and with the current Labor state government set to enter a so-called caretaker period on Oct. 5, when no major decisions are typically announced prior to the vote.

State Treasurer Cameron Dick did not say when Adani would start to pay royalties or how much revenue the state would collect, citing commercial-in-confidence agreements.

“I can assure you that Adani will pay every dollar in royalties that they have to pay to the people of Queensland… with interest,” Dick said in a news conference. “That’s absolutely locked in now.”