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Adani Australia gets final environmental approval for Carmichael mine

Posted On: 2019-06-13 14:26:29

Adani Australia on Thursday received its final environmental approval needed to begin work on its Carmichael mine in Central Queensland.

Speaking on the occasion Mr. Gautam Adani, Adani Group Chairman, said, "Today our remarkable journey of conviction, resilience, and commitment in Australia enters a new phase. I am thankful to the Queensland government and the Australian federal government for believing in the Adani Group's vision of strengthening India's energy security and creating new opportunities for the people of Australia."

Mr. Lucas Dow, CEO Adani Mining, said, "Adani Mining received advice today from the Queensland Government's Department of Environment and Science that the Groundwater Dependent Ecosystems Management Plan (GDEMP) has been finalised and approved. Throughout the past eight years regional Queenslanders have been beside us every step of the way and we thank them for their on-going support. We're ready to start work on the Carmichael Project and deliver the jobs these regions so badly need."

The approval states that the plan complies with all regulatory conditions set by the Australian and State Governments, bringing to a close a two-year process of rigorous scientific inquiry, review and approvals. This includes relevant reviews by Australia's pre-eminent scientific organisations CSIRO and Geoscience Australia.

The finalisation of the GDEMP and Black-throated Finch Management Plan paves the way for construction to commence on the Carmichael Project and the delivery of much needed jobs for regional Queenslanders. Moving forward, Adani Australia's priority is ensuring the safety of everyone who works on the project and that all construction activity meets the strict environmental requirements we have agreed to meet in our management plans and approvals. Over the coming day's preparatory activities such as finalising contracts, mobilising equipment, recruitment and completing inductions will continue.

These preparatory actions will enable us to then start construction activities including fencing, bridge and road upgrades, water management and civil earthworks on the mine site.

The level of construction activity will then steadily increase over the coming weeks. The project will deliver 1,500 direct and 6,750 indirect jobs during ramp up and construction, with Rockhampton and Townsville the primary hubs for employment.

The Whitsunday, Isaac, Central Highlands, Mackay, Charters Towers and Gladstone regions will also benefit from work packages and employment opportunities.

Shares of ADANI ENTERPRISES LTD. was last trading in BSE at Rs.153.1 as compared to the previous close of Rs. 153.5. The total number of shares traded during the day was 856859 in over 4314 trades.

The stock hit an intraday high of Rs. 159.25 and intraday low of 150.7. The net turnover during the day was Rs. 132838982.


Source: Equity Bulls

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