Hundreds of jobs secured with Argo's acquisition of Bowen Coking Coal

Argo Bowen 2 – a wholly owned subsidiary of Argo Holdings Pty Ltd – has acquired Bowen Coking Coal, securing the long-term future of hundreds of workers at the Burton Coal Mine.

This acquisition, welcomed by the Crisafulli Government, is another major vote of confidence in Queensland’s coal industry.

The new investment builds on Argo’s significant coal portfolio, cementing its long-term commitment to the Bowen Basin’s coal assets as well as regional Queensland jobs.

“Queensland is home to some of the world’s best coal mines and with current global energy and supply chain instability, now more than ever we are reminded of the importance of the world-class assets in our own backyard.

“We continue to see renewed demand globally for Queensland’s world-class thermal and coking coal and Argo’s investment is another vote of confidence in our mining industry and the thousands of Queenslanders it supports.

“Unlike the former Labor government who drive investment away, we’ll back those who want to do business across our resources sector,” Minister for Natural Resources and Mines Dale Last said.

Argo is seeking to restart operations at the Burton Coal Mine, located about 120 kilometres south of Mackay, which is expected to support 250 Queensland coal jobs.

A strong relationship has been built between the State Government and Argo after Premier David Crisafulli secured the mining company’s investment in Broadlea, Carborough Downs and Ironbark mines following a Trade Mission to India and Japan last year.

Moreover, Minister Dale Last met with Argo during the Trade Mission to South Korea and Japan earlier this year.

Overall, Argo’s investments in Queensland are securing the long-term future of more than 1,250 employees, contractors and suppliers across four mines.

“The acquisition of Bowen Coking Coal is transformational when combined with Argo’s existing portfolio, following our recent acquisition of a majority stake in Fitzroy Australia Resources.

“With a consolidated portfolio spanning approximately 50 kilometres of strike length in the heart of the Bowen Basin, including two coal handling plants, two rail loops, multiple stockpiles and an integrated haul-road network, Argo is exceptionally well positioned to unlock significant operational synergies.

“This scale and infrastructure provide a strong platform to optimise existing mining assets while accelerating the development of new mine opportunities across the portfolio,” Argo Natural Resources CEO Richard Livingstone-Blevins said.

Source: Queensland Government – Media Statements; Mining.com.au; Industry Queensland