Investment boost for Central Queensland’s resources sector

• Crisafulli Government secures further investment into Central Queensland’s Galilee Basin, strengthening the future of the State’s resource sector.
• Bravus commits $50 million in expansion works at the Carmichael mine, opening the door to a further half a billion dollar investment and 600 new jobs.
• Crisafulli Government delivering a better lifestyle through a stronger economy. 

The Crisafulli Government has secured fresh investment into Central Queensland’s resources sector, with Bravus investing $50 million over the next two years into expansion works at the Carmichael coal mine. 

The investment will support an expansion of the Carmichael mine’s workers village, a new water dam, the construction of a rail network maintenance hub, additional mine site infrastructure, and engineering works. 

This initial commitment will help to underpin the expansion of production at the Carmichael coal mine by around one third over the next few years involving $500 million in additional capital investment and 600 new jobs during construction, subject to approvals. 

Premier David Crisafulli said the trade and investment certainty being restored by the Government was turbo-charging opportunity for Queensland.   

“We are sending a strong signal that Queensland is open for business because we are serious about delivering a better lifestyle through a stronger economy,” Premier Crisafulli said. 

“We are taking important steps to rebuild Queensland's reputation as a place to invest, because we back the future of our regional communities who rely on a thriving resources sector.” 

The new $50 million investment, that paves the way for the job-generating expansion, was secured despite an agreement struck between Bravus and the former Labor Government in October 2020, that signed a deal for the mining company to defer royalty payments. 

Treasurer David Janetzki said the Crisafulli Government had not made any changes to the coal royalty tiers introduced by Labor in 2022 but had secured the expansion of the mine and the hundreds of jobs attached to it, finally bringing an end to a lengthy legal process. 

“We were locked into this deal by the former Labor Government but at the table we’ve worked extremely hard to ensure we get hundreds of jobs in return, something the former Labor Government did not do,” Mr Janetzki said. 

“I want to be very clear there will be no additional royalty deferrals because they were negotiated and locked in by the former Labor Government and Bravus will be required to repay every cent to Queensland taxpayers - with interest. 

“This is about a stable and calm Government working on driving greater investment into the State, securing a better deal, which means we can deliver critical jobs in our regional cities and towns.”   

Minister for Natural Resources and Mines Dale Last said the expansion was a vote-of-confidence in the Crisafulli Government’s plan to drive mining growth. 

“Global demand for high-quality coal is forecast to continue for many years to come, but the former Labor Government’s unpredictable anti-mining policies sent investor confidence off a cliff,” Minister Last said. 

“The Crisafulli Government backs our Queensland’s hard working mining families, and we’re creating an environment where industry can plan with confidence to create more jobs and opportunities from the Bowen and Galilee Basins through to Rockhampton, Mackay and Townsville. 

“More than 400 coal-fired power stations are under construction around the world, mostly in China, India and South-East Asia, and Queensland’s Galilee Basin is well positioned to meet that demand. 

“In India alone, coal demand increased by 4 per cent last year - with the development of the Galilee Basin helping millions of Indians lift their living standards by providing reliable, affordable energy. 

“Queensland has the world’s best coal reserves, and this expansion is proof that by giving industry certainty, we can attract the right investment to create long-term jobs for mining families and keep our coal communities strong.” 

ENDS 

MEDIA CONTACT:  

Premier’s Office: Cam Inglis 0412 084 743 

Treasurer’s Office: Renee Smith 0419 404 180 

Minister Last’s Office: William Rollo 0434 650 650