Thursday, May 25, 2017

Adani Carmichael mine's rehabilitation financial assurance at least $1.5b, Lock the Gate says

Adani will have to provide financial assurance of more than $1.5 billion for the rehabilitation of the Carmichael mine proposed for central Queensland, a new report has suggested.

Environmental group Lock the Gate Alliance has analysed rehabilitation costs based on the Queensland Government's financial assurance calculator, which it argues is a conservative figure.

It concluded the initial financial assurance for the mine would be between $1.5 billion and $2 billion, based on estimates over five to 30 years of operation.

Rick Humphries from Lock the Gate Alliance said it was a significant finding.

"That would make it the largest financial assurance claim in the state," Mr Humphries said.

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