Resolve praises Qld govt backing for Adani

INFLUENTIAL coal investor and Resolve Coal managing director Gordon Saul has backed the Queensland state government’s agreement to invest in Indian-owned Adani’s rail line to Abbott Point from the Galilee Basin coal region.
Resolve praises Qld govt backing for Adani Resolve praises Qld govt backing for Adani Resolve praises Qld govt backing for Adani Resolve praises Qld govt backing for Adani Resolve praises Qld govt backing for Adani

Map showing Adani's proposed Carmichael mine and rail project.

Lou Caruana

His response is at odds with that of Clive Palmer who said the Queensland government has “ignored Queensland companies and given taxpayer-funded support to Indian company Adani’s proposed coal mine and infrastructure project for the Galilee Basin”

But Saul said the government’s decision was a “great outcome” for Resolve Coal and other Galilee Basin miners looking to develop projects in the world’s premier undeveloped thermal coal region.

“Resolve Coal plans to build the $1.2 billion Hyde Park thermal coal mine in Central Queensland’s new Galilee basin coal region situated between Clermont and Charters Towers,” Saul said.

“Recently Resolve Coal signed a memorandum of understanding with Adani for a 10 million tonne per annum rail and port allocation on the new rail and port development.

“The signed agreement between the Queensland state government and Adani is a great outcome, with hundreds of millions of dollars now available to build the necessary infrastructure required in the Galilee.

“The HPCP is the closest coal project in the Galilee Basin to the Abbot Point coal terminal and is favourably placed to deliver benefits to the national economy.”

Saul said it is also estimated the state government’s investment into infrastructure would help to create up to 27,000 jobs in the Galilee Basin and in the wider Australian economies.

“This is a major milestone for both Queensland and the national economy, making us one step closer to opening up one of the world’s greatest energy provinces,” he said.

Resolve Coal was named Explorer of the Year in the Australian Mining Prospect Awards this year for its work on the Hyde Park coal project.