the Queensland state governmentís vetoing Adaniís request for for a Aus$1.0 billion loan from the
Northern Australia Infrastructure Facility (NAIF) to help build a rail line to connect the mine to port,
Adani said it had cancelled a conditional Aus$1.0 billion contract with Downer,
appointed in June to construct and operate the mine, to keep the costs down.
on from the NAIF veto last week, and in line with its vision to achieve the
lowest quartile cost of production by ensuring flexibility and efficiencies in
the supply chain, Adani has decided to develop and operate the mine on an owner
operator basis," it said.
and Downer have mutually agreed to cancel all Letter of Awards and Downer will
provide transitional assistance until 31st March 2018."
Premier Annastacia Palaszczuk had long supported Adani's application for the
loan, but reversed her position in campaigning during a state election last
month after it threatened to derail her chances of retaining office.
development proposes exporting coal to India from a massive open-cut and
underground coal mine 160 kilometres (100 miles) northwest of Clermont in
central Queensland, home to the reef, via a 189-kilometre rail link to port.
conglomerate forecasts it will produce 60 million tonnes of thermal coal a year
for export and estimates it will generate 10,000 direct and indirect jobs.
cite public opposition, risks to miners' health and the potential impact on the
reef among reasons not to proceed.