The Queensland Land Court has determined Adani’s economic forecasts for the Carmichael coal mine have been well overstated and yet, has given the go ahead for the controversial project to proceed.
The Indian mining giant has been chasing approvals for what is set to emerge as the country’s largest coal mine against the wishes of Aboriginal Traditional Owners in the Galilee Basin.
Adani initially projected the mine would provide 10,000 jobs annually after 2024 and provide the state with an estimated $22 billion in royalties but a witness for Adani stated the actual projection of jobs created would only be 1,464.
The court also found the mining company likely inflated the selling price of coal which in turn resulted in a miscalculation of royalties generated and taxes payable.
In November, the Wangan and Jagalingou Traditional Owners' Council opposing the coal mine being built on their country, told the Federal Court in Brisbane the same figures had led to the Native Title Tribunal being misled.
Image coutresy of the ABC: Gantam Adani, Chairman of the Adani Group