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 Queensland Government is delivering a better lifestyle through a stronger economy and restoring stability in the resources industry.

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 Queensland 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.

“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.”