FORECAST: GPC boss believes the price of coal won't keep rising.
FORECAST: GPC boss believes the price of coal won't keep rising. Lee Constable

Environmentalists scoff at Adani's 'benefits to community'

THE environmental group currently in a legal battle with Adani say they will dispute in court next week the mining giant's claims it will roll out 4000 jobs.

Coast and Country warned the State Government and Queenslanders to be sceptical of Adani Australia chief Jeyakumar Janakaraj's  "heroic" claims in a media interview on Thursday.

Mr Janakaraj said work on its Carmichael coal mine in the Galilee Basin south-west of Mackay would be underway soon.

Adani predicts Australia's largest thermal coal mine, rail and port projects will generate more than 10,000 jobs directly and indirectly, along with $22 billion in taxes and royalties over the half-life of the projects.

An Adani spokesperson said their projections based on an assessment undertaken by a top-tier global advisory firm were considered conservative.

More than 4000 jobs were reportedly expected to be created during the early construction phase.

Coast and Country's Derec Davies said the company had consistently overstated the benefits to Queensland.

"Our case is that this mine presents a risk to the state's economy," he said.

"According to financial analysis by IEEFA's Tim Buckley, the project is unlikely to receive financial approval but if it does, and construction commences, then it would soon fail and become a stranded asset.

"We are very concerned about their numbers and we will be disputing them vigorously in court next week when we hear from our economic experts."

Mr Buckley is from the Institute for Energy Economics and Financial Analysis.

Coast and Country argues the central Queensland mega-mine will cause social and environmental problems, including threatening the endangered black-throated finch species.

The spokesperson said Adani had consistently stated it would adhere to the guidance of State Government authorities on water solutions and water pricing, as well as adhering to all safeguards.

"It is important to note that Adani will pay the going market rate - Adani emphatically rejects Coast and Country's claims of a discount," the spokesperson said.

"It's unfortunate that Coast and Country doesn't want these substantial economic benefits for Queensland, balanced against the strict environmental conditions of the state and Commonwealth world's best practice environmental approvals framework, to proceed.

"These substantial economic benefits reflect the confidence Adani has in Queensland as an investment destination - delivering jobs, taxes and royalties here while helping deliver energy security in India, and electricity to some of the several hundred million households that currently lack any such access."

The case in the Queensland land court continues.

- APN NEWSDESK


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