The Queensland Government and Adani have mutually agreed to extend the target date for conclusion of a Royalty Deferral and Repayment Agreement for Adani’s Carmichael mine in the Galilee Basin.
By mutual agreement of the parties, the new target date for conclusion of the RDRA is 30 November 2019.
As the government stated when the Resources Regional Development Framework was announced in 2017, when royalties are deferred under the RDRA, they have to be repaid in full, with interest and with security of payment in place.
The precedent for a Royalties Deferral and Repayment Agreement was set in August this year, when New Century concluded an RDRA for its zinc mine in the North West Minerals Province.
Adani has advised that the commencement of construction of the Carmichael mine is not dependent on the finalisation of the Resources Regional Development Framework negotiations.
