The Queensland Government and Adani have agreed to extend the target date for conclusion of a Royalty Deferral and Repayment Agreement for the Carmichael coal mine.

Today had been set as the deadline for Queensland Treasury to finalise the agreement when the Co-ordinator General in May laid out an approvals timeline for the Galilee Basin coal project after lengthy delays.

Deputy Premier and Treasurer Jackie Trad said the new target date for conclusion of the RDRA was November 30.

Ms Trad said royalties deferred under the RDRA would have to be repaid in full, with interest and with security of payment in place.

The precedent for a Royalties Deferral and Repayment Agreement was set in August this year, when New Century concluded an RDRA for its zinc mine in the North West Minerals Province.

Ms Trad said Adani had advised that the commencement of construction of the Carmichael mine was not dependent on the finalisation of the Resources Regional Development Framework negotiations.

Meanwhile Queensland deputy LNP leader Tim Mander is calling on the State Government to put all royalties from the Galilee Basin into the Queensland Infrastructure Fund.

“The LNP has announced that these royalties can only be used to fund infrastructure such as schools, hospitals and roads,” he said.

“Queenslanders deserve a fair return for their resources and these royalties shouldn’t be wasted like Labor has done in the past.”