Aussie Environment Minister Greg Hunt Says Adani Deal Will Provide Jobs, Prosperity

by on

Australian Environment Minister Greg Hunt has been a strong advocate of Adani Group’s recently signed $15.5 billion deal to mine and export coal from the Carmichael area to Adani’s native India.

FREE Download: The Monthly MMI® Report – covering Steel/Iron Ore markets.

He tried to counter protests from environmentalists by explaining in great detail how the project would boost Australian economy. He explained that at full export capacity, the project was expected to contribute almost $930 million to the Mackay region’s gross regional product and $2.97 billion to the Queensland economy each year for the next 60 years. The mining project will generate an estimated 2475 construction jobs and a further 3,920 jobs during the operations phase.

For India, on the other hand, it would mean securing the energy needs for millions.

Cabinet colleague and Australia’s Trade and Investment Minister Andrew Robb, too, hailed Hunt’s decision to grant environmental approval to Adani Mining, the subsidiary of Adani Group, the company that bagged the contract. He said the project demonstrated the enormous potential that remained in Australian resources and energy, in this case coal, to help drive continued economic growth and job creation. The move will help support the opening of Australia’s first new mineral province in 40 years..

Posco Engineering & Construction Co., a unit of South Korean steel giant Posco, will help build the railway tracks for transporting coal from the mine being developed by Adani. Together with the rail project, overall, the Queensland project is expected to generate over 10,000 jobs in Australia.

The author, Sohrab Darabshaw, contributes an Indian perspective on industrial metals markets to MetalMiner.

Comments (4)

  1. Peter Kean says:

    Once again I must question the reality of the projects economics, rather than than just accept the PR hype of Governemnet Ministers and a private company with $500m invested and the possiblity of no return. Interesting questions are raised at the ABC website http://www.abc.net.au/news/2014-07-29/20140729-am05-minemoney/5631018

  2. Jeff Yoders says:

    Peter, you are free to question the economics of the project, but it’s worth nothing that commenter Gary Doggett seems to think MetalMiner is paradoxically in bed with environmental interests, and definitely NOT the government ministers you claim we are too eager to accept PR from.

    https://agmetalminer.com/2014/08/06/environmentalists-go-up-against-indias-well-connected-adani-group-over-queensland-coal/

    1. Peter Kean says:

      Hi Jeff, I am sorry but I don’t think you understood the nature of my comment. The point that I was trying to make is that I value independant analysis and comment. From my perspective, the 2 articles I have commented on here did not really add any value over freely available press releases. I am not saying that you are biased one way or the other, just that these were easily accessible articles that have been more or less re-presented. I cant speak for Gary, but after reviewing the other article you refer to and his comments, I wonder if he is actually articulating a similar sentiment (but from the “other side of the fence”)?
      Just a thought, espescially if you are looking to attract paid subscribers with a value proposition ……

      1. Jeff Yoders says:

        I understood it completely, but MetalMiner certainly would not run a press release and we believe that Sohrab Darabshaw added quite a bit of value in all three of these articles. The fact that someone else thought they were the exact opposite of your position on them shows that they both engaged readers and inflamed passions on both sides of the issue.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.