The Queensland State Government will continue with a float of QR coal after a consortium of miners dropped out of negotiations.
After being given until Friday to make a bid, the consortium of coal mining companies withdrew its bid after saying it could not satisfy the requirements of the Government.
The coal mining group contacted QLD State treasurer Andrew Fraser on Thursday requesting that an extension not be granted.
"The Government has in the meantime continued with the preparations for the float of QR National as a top 50-listed company,” Fraser told the ABC.
"I’m confident QR National will list successfully in the last quarter of this year and go on to be a great Australian company."