{"id":153936,"date":"2025-11-26T02:29:09","date_gmt":"2025-11-26T02:29:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/153936\/"},"modified":"2025-11-26T02:29:09","modified_gmt":"2025-11-26T02:29:09","slug":"central-queensland-fitzroy-resources-coal-mine-sale-secures-1000-jobs","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/153936\/","title":{"rendered":"Central Queensland Fitzroy Resources coal mine sale secures 1,000 jobs"},"content":{"rendered":"

The future of more than 1,000 employees, contractors and suppliers at three Queensland mining sites has been secured, according to the premier, after a newly formed company purchased a majority shareholding in Bowen Basin mining company Fitzroy Resources.<\/p>\n

Fitzroy Resources operates Broadlea, Carborough Downs and Ironbark mines near Moranbah in central Queensland.<\/p>\n

Argo Queensland, formed two months ago, has acquired a 70 per cent stake in the company for an undisclosed sum.<\/p>\n

Premier David Crisafulli said the deal was struck during negotiations he led at a recent trade mission to India and Japan.<\/p>\n

It is the third major mining announcement for Central Queensland this week.<\/p>\n

In a letter to employees, the company said the sale marked an end to an “extraordinarily challenging” period for staff, contractors and suppliers.<\/p>\n

“Fitzroy has been through a difficult period and we are grateful for the support of our team and stakeholders as we have successfully worked through it,” the letter reads.<\/p>\n

“This transaction will deliver a significantly strengthened balance sheet, which puts Fitzroy in a stable position to manage our financial commitment to you and our contractor partners and suppliers.”<\/p>\n

\"Large<\/p>\n

Fitzroy Resource’s coal loading stockpile at Carborough Downs mine. (ABC Tropical North)<\/p>\n

In a statement, CEO Dan Clifford said the transaction could take up to four months and was a strong vote of confidence in the long-term potential of the mines.<\/p>\n

Bowen Basin mines to expand<\/p>\n

On Tuesday the Chinese-backed mining company Yancoal said it hoped to expand and extend the life of the Yarrabee coal mine<\/a> near Blackwater.<\/p>\n

The open-cut mine opened in 1994 and produces mostly metallurgical coal for the international steel market.<\/p>\n

The company is now proposing to extend the life of the mine until 2070, continuing to mine up to 4 million tonnes of coal a year until then.<\/p>\n

Deputy Premier Jarrod Bleiji has also announced the expansion of the Centurion mine, 40 kilometres north of Moranbah, into the 2050s.<\/p>\n

The government has declared it a “co-ordinated” project to allow mine owner Peabody Energy to deal with a single government agency while seeking approvals for the $662 million project.<\/p>\n

Peabody said the expansion would produce around 100 million tonnes of high-grade steel-making coal for export.<\/p>\n

Isaac businesses welcome sale<\/p>\n

Isaac Chamber of Commerce president Nathan Corbett said it was hoped the Fitzroy Resources sale would provide more security for business.<\/p>\n

“It’s either business as usual or it’s a potential uplift \u2026 with investment in the region and investment in businesses,” he said.<\/p>\n

Mr Corbett said most mining companies had a “buy-local-first policy” and while the company name might change, he hoped operations would remain the same.<\/p>\n","protected":false},"excerpt":{"rendered":"The future of more than 1,000 employees, contractors and suppliers at three Queensland mining sites has been secured,…\n","protected":false},"author":2,"featured_media":153937,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[102362,102363,102361,102359,102365,102364,19514,273,102358,102360,102357,111,139,69,69898,147],"class_list":{"0":"post-153936","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-environment","8":"tag-acmi","9":"tag-argo-queensland","10":"tag-broadlea-mine","11":"tag-carborough-downs","12":"tag-coal-mine","13":"tag-coal-mining","14":"tag-david-crisafulli","15":"tag-environment","16":"tag-fitzroy-resources","17":"tag-ironbark-mine","18":"tag-mine-sales","19":"tag-new-zealand","20":"tag-newzealand","21":"tag-nz","22":"tag-queensland-government","23":"tag-science"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/153936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=153936"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/153936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/153937"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=153936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=153936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=153936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}