MEP Michael Berkman has asked Mr Dick to disclose the terms of the royalty deferral. “I can confirm that the Queensland government has established terms for a regional resource development licensing agreement with Adani,” Dick said when asked by a reporter in Mackay about the deal. It is not clear how the long-standing issue that Adani offers security to allow the licensing agreement was overcome, and Dick told reporters that the details were commercial in confidence. An Adani spokesman confirmed that the royalty agreement had been signed, but that neither the company nor the state government had released details. Adani Group said it had signed the long-pending licensing agreement for its In Carmichael mine with the Queensland government. The Queensland government has entered into a licensing agreement with miner Adani, which would allow it to defer payments due to the Carmichael coal mine, a move that conservationists have described as “shameful.” But the “royal holiday” or the royalties deferred by the system have been criticized by anti-Adani activists. Sources said Royalties Deferral and Repayment Agreements allow miners to delay royalty payments to free up cash flow at the start of their projects if they meet the obligation later with interest and reinforces Adani Group`s commitment towards the development of the area of operations – in this case – Queensland, Australia. The agreement has been in arre with the agreement for more than a year, the treasurer said was the result of negotiations for a good agreement. As the RRDF agreement was reached, it means that the government will expect Adani to share its infrastructure with other commercial operations.
Controversial agreement that has been signed for years in the making that the government is preparing to put in concierge mode before the regional elections “I can also confirm that this agreement ensures that Adani pays every penny of royalties it owes to Queensland taxpayers – with interest. Treasurer Cameron Dick confirmed that the terms of the licensing agreement had been settled, but the details were not made public. Dick said the terms of the agreement were consistent with the regional resource development framework. Treasurer Cameron Dick confirmed that this week, more than a year after the initial completion, the government had “set the terms of a licensing agreement.” “We spend a lot of time negotiating licensing agreements, not only for this mine, but also for many mining projects in Queensland,” he said. “In accordance with the Queensland Treasurer`s comments on Thursday, October 1, we can confirm that the licensing agreement was signed by both Adani and the Palaszczuk government. The Carmichael project will generate billions in taxes and royalties that go to the Australian and Queensland governments during the first 30 years of the Queensland government. This money will help build schools, hospitals and roads for Queensland,” said an Adani spokesperson. These conditions are consistent with the regional resource development framework, which formed the basis of last year`s agreement with the Century zinc mine. The Treasurer today declined to give concrete details of the agreement and relied on previous statements by the government that certain details of the agreement were commercially in confidence. In a further evacuation of the bridges before the October 31 election, Treasurer Cameron Dick confirmed that the terms of the licensing agreement had been clarified. The agreement was signed by the government on Thursday evening. The agreement with Adani is the second agreement in Queensland that allows a commodity company to defer royalties.
UPDATE 7:30 p.m.: ADANI and the government have both signed the licensing agreement for Indian miners, as confirmed by an Adani spokeswoman. Needless to say, Labor wanted to settle this matter and expressed concern that Adani might try to make the licensing agreement a campaign theme in the fields of the working class and the coal industry. FIRSTR 2:30 p.m.: The government has entered into a licensing agreement with Adani for its Carmichael mine.