Published Today at 10:14 AM

JOINT STATEMENT

Premier and Minister for Veterans
The Honourable David Crisafulli

Treasurer, Minister for Energy and Minister for Home Ownership
The Honourable David Janetzki

Minister for Natural Resources and Mines, Minister for Manufacturing and Minister for Regional and Rural Development
The Honourable Dale Last

Landmark coal investment secures hundreds of jobs for Queensland

  • Queensland Premier David Crisafulli’s Trade Mission has secured major international investment in Central Queensland’s Bowen Basin, delivering growth in the State’s coal industry.
  • Landmark deal secures future for more than 1000 workers, contractors and suppliers and was executed following meetings during the Premier’s trade mission to Japan and India.
  • The deal is a vote of confidence in Queensland’s coal industry in response to the Crisafulli Government’s open for business approach.
  • Argo Queensland to acquire a 70 per cent stake in Fitzroy Australia Resources.
  • The Crisafulli Government is delivering a fresh start for Queensland’s resources sector and a better lifestyle through a stronger economy. 

Queensland Premier David Crisafulli has secured major international investment for Central Queensland’s resources sector by working alongside a reputable mining consortium, with global investors committing to long term coal assets in the Bowen Basin. 

The landmark deal between European and Japanese investors was struck following negotiations led by Premier David Crisafulli during recent Trade Mission to India and Japan.  

The deal is a major vote of confidence in Queensland’s coal industry will deliver major new investment into Broadlea, Carborough Downs and Ironbark mines to secure a long-term future for Central Queensland.  

Argo Queensland will acquire a 70 per cent stake in Fitzroy Australia Resources and will become the controlling entity.  

The deal will secure the future of more than 1000 employees, contractors and suppliers at the three sites. 

The Crisafulli Government is delivering a better lifestyle through a stronger economy and restoring stability in the resources industry, after the former Labor Government’s unpredictable policy destroyed international confidence in Queensland’s mining sector. 

Premier David Crisafulli said the announcement was a defining moment for Queensland’s resources industry.  

“This historic investment sends a powerful message – Queensland is open for business and ready to partner with those who back our State,” Premier Crisafulli said.  

“This deal means long-term jobs, long-term investment and long-term confidence for the communities that power Queensland’s economy.  

“We’re delivering a better lifestyle through a stronger economy, and a fresh start for Queensland’s coal sector.” 

Treasurer David Janetzki said the Crisafulli Government was fostering a stable and predictable environment to drive investment in Queensland. 

“Our Government is committed to restoring investor confidence and creating opportunities for regional communities that depend on a thriving resources sector,” Mr Janetzki said. 

“We promised to restore trust and rebuild confidence with our national and international trading partners through a stable taxation and regulatory framework, and that’s exactly what we’re doing. 

“While we inherited challenges from the former Labor Government, we’ve worked tirelessly to secure this investment and the hundreds of jobs that come with it. This is a win for Queenslanders and a win for our economy.” 

Minister for Natural Resources and Mines Dale Last highlighted the importance of the Bowen Basin in meeting global energy demands and supporting local communities. 

“Queensland’s Bowen Basin produces the world’s best coal and this investment is a vote of confidence in our mining industry and the thousands of hardworking Queenslanders it supports,” Minister Last said.  

“Since 2000, global coal demand has nearly doubled, with Queensland’s main export markets like India, China and South-East Asia accounting for half the world’s usage –  and with more than 400 coal-fired power stations under construction around the world, there’s no sign of slowing.” 

ENDS 

MEDIA CONTACT:  

Premier's Office: Jacob Chicco, 0488 401 991 
Treasurer's Office: Renee Smith, 0419 404 180 
Minister Last's Office: William Rollo, 0434 650 650