00:00The Premier given the go-ahead to a royalty holiday for a mining multinational.
00:07Braavis, formerly known as Adani, will invest $50 million into central Queensland's Carmichael coal mine.
00:15That money will be used to expand the workers' village, create a new dam, a rail network hub for maintenance and additional engineering works.
00:24It's a huge vote of confidence in the sector that everyone can reverberate across all of the industry.
00:30Coal royalties have been deferred, but the government won't reveal the details it says are commercial in confidence, blaming its predecessors.
00:39Cameron Dick can explain why that was all done commercial in confidence.
00:43I'm giving you transparency. I'm telling you that the deal that was signed is being honoured with one change.
00:48And that change is, in order to end hostilities, they're going to increase the size of this mine by a third and employ another 600 people.
00:55The former Labor government inked a deal for Adani to defer payments in 2020.
01:00That never eventuated, caught up in legal proceedings which the Treasurer says have now ended.
01:06Braavis will repay every dollar to the Queensland people with interest. That is locked in.
01:15That interest rate and when Queenslanders will see the money is under wraps.
01:19Shadow Treasurer Shannon Fentiman has labelled the agreement a secret sweetheart deal,
01:25questioning how the Premier can guarantee the royalties will be repaid, given Braavis has made a loss of $800 million in the past two years.
01:34The
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