June 20, 2017/ News
The $21 billion Carmichael coal mine, located in Queensland's Galilee Basin, has been signed off by the Adani group and will be set in motion. Once complete, the mine will be composed of 11 open-cut and underground mines, occupying five times the space of Sydney Harbour. This will make the Carmichael coal mine one of the largest in the world. The coal mine will have a predicted lifespan of sixty years and generate sixty million tonnes of coal. This coal will be exported to India via the waterfront terminal at Abbott Point.
Adani states that the construction and operation of the mine, as well as its associated railway and port, will generate approximately 10,000 direct and indirect jobs.
For the people of Townsville, this major boost in job opportunities will come as welcome relief. The unemployment rate in the region had peaked at a staggering 10.7%. Young people had been hit the hardest by the lack of opportunity, with unemployment rates in this cohort exceeding 20%.
Townsville Chamber of Commerce chief executive Marie-Claude Brown expressed that the Adani mine and rail project, would not only bring much-need jobs to the are, but also hope to the local people who have struggled and suffered through the mining downturn and severe drought.
In addition to this, The Adani Carmichael coal mine and rail project will be beneficial for the overall Australian economy, as it marks the largest investment of an Indian corporation in Australia. This helps to foster stronger business relationships with this economic powerhouse, and pave the way for more Indian companies to invest their money in Australia.
Pre-construction for the Carmichael coal mine and rail project will begin in September 2017.
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