- The Crisafulli Government is backing in Queensland's resource workers with support for the sale of Kestrel Coal Mine to bolster the State's coal industry.
- The acquisition is a vote of confidence in Queensland's coal industry under the Crisafulli Government and comes off the back of Argo Queensland's investment in Broadlea, Carborough Downs and Ironbark mines.
- Yancoal Australia will acquire an 80 per cent stake in the Kestrel Coal Mine 40km north of Emerald.
- The Crisafulli Government is delivering a better lifestyle through a stronger economy with a stable operating and investment environment for mining companies after Labor's anti-mining policies drove investment off a cliff.
The Crisafulli Government has welcomed Yancoal Australia's multi-billion dollar investment in Kestrel Coal Mine which secures the long-term future of 800 workers.
The sale of Kestrel Coal Mine, Australia's largest underground metallurgical operation, is another major vote of confidence in Queensland's coal industry under the Crisafulli Government and will deliver significant new investment into central Queensland after Labor's anti-mining policies sent investment off a cliff.
Yancoal Australia has announced it will acquire an 80 per cent interest in the Kestrel Coal Mine and become the controlling and operating entity.
This acquisition will secure the long-term future of the underground mine, more than 800 direct jobs, and thousands of indirect jobs associated with the operation.
It comes off the back of Argo Queensland's investment into Broadlea, Carborough Downs and Ironbark mines, and the $314.9 million expansion of the Ensham Coal Mine near Emerald, which combined secured the future of a further 1,700 jobs.
The Crisafulli Government is delivering a better lifestyle for regional Queensland through a stronger economy, underpinned by a stable operating and investment environment in the resources sector that supports new capital.
Minister for Natural Resources and Mines Dale Last said the acquisition was a vote of confidence in Queensland's world-class coal assets.
"Queensland is home to some of the world's best coal mines and it makes sense that Yancoal is looking to expand its portfolio in our backyard," Minister Last said.
"I have made it clear to the sector and the investment community that we are open for business, we have a stable operating environment, and we will throw our support behind those companies who want to do business here.
"The Crisafulli Government backs Queensland's mining families and we are delivering an environment where industry can plan and invest with confidence."
