Queensland’s latest resources deal has taken shape through deepening ties with India, with the State Government confirming that negotiations during Premier David Crisafulli’s recent trade mission to India and Japan played a central role in securing a major international investment in the Bowen Basin.
The agreement will see Argo Queensland acquire a 70 per cent stake in Fitzroy Australia Resources, locking in long-term operations at the Broadlea, Carborough Downs and Ironbark mines. More than 1000 workers, contractors and suppliers are expected to benefit from the stability the new investment brings.
Government officials say interest from Indian investors and energy partners has grown steadily as demand for Queensland coal continues across India’s industrial and power sectors. The trade mission sought to reinforce those relationships, with discussions in New Delhi and Mumbai laying the groundwork for the final deal. India remains one of Queensland’s most important resource customers, and the renewed collaboration is being framed as a strategic advantage at a time when international competition for investment is intense.
Premier David Crisafulli said the partnership highlights the strength of Queensland’s connection with India, noting that Indian stakeholders value both the quality of Queensland coal and the reliability of its export supply chain. He described the investment as a clear endorsement of the state’s approach to rebuilding confidence in the sector.
Treasurer David Janetzki said the outcome reflects a broader effort to re-establish trust with major trading partners after years of volatility. He emphasised that creating stable policy settings has been a core part of opening opportunities for regions that depend on mining.
Natural Resources and Mines Minister Dale Last added that the Bowen Basin’s output continues to play a key role in meeting India’s energy and industrial needs. With India among the countries expanding coal-fired generation and steel production at pace, demand for Queensland coal remains strong.
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