Queensland premier Annastacia Palaszczuk's much anticipated announcement followed a meeting with the head of the Indian mining and energy giant Adani in Townsville.
She says the project in the state's Galilee Basin will create around 10,000 jobs.
"I have got an ironclad guarantee from Mr Adani that there'll be no 457 visas as part of the workforce for this major project. I, secondly, have a guarantee of a Queensland First policy for jobs, and especially for regional Queensland. Today is a great day for regional Queensland. I have been 100 per cent focused on ensuring that we have the ability to deliver jobs for Queenslanders."
After delays, numerous court challenges and nearly 40 significant approval processes, Adani Australia chief executive Jeyakumar Janakaraj is wasting no time.
He says he wants the project to start in the middle of next year.
Townsville will become Adani mining's regional headquarters, while the Mackay-Bowen area will become the regional headquarters for its rail and port operations.
Mr Janakaraj says a decision is yet to be made on where the mine's fly-in, fly-out base would be.
"Adani has nominated a number of cities and towns as project service centres to provide resources and workers as needed for the infrastructure near a 400-kilometre rail link from Carmichael to Abbott Point. These centres are Townsville, Mackay, Rockhampton, Emerald, Claremont, Collinsville, Moranbah and Charters Towers. So as you can see, we are back on track, and regional Queenslanders will be among all the winners."
Ms Palasaczcuk insists there has been a rigorous environmental assessment of the mine's potential impact on the Great Barrier Reef as well.
But conservationists have accused her of "selling her soul to big coal," and Greens MP Adam Bandt says the project will do more harm than good.
Jeyakumar Janakaraj says there is a bigger perspective to consider.
"People have to very clearly understand that this project has a net positive impact on climate change in the world. And we have to look at facts, not just emotions. India is a large consumer of coal either way. So if Australia doesn't produce and give India high-quality, highly sustainable mining, it is going to rely on coal that will come from less reliable geographies."
Mr Janakaraj says Australia's moral responsibility is to be part of the solution, not just part of the problem.
"Sixty per cent of Adani's energy mix will be from renewable sources, which gives us more than (enough) moral ground, not just to talk but, also, to do steps that we need to protect India's energy security, India's affordability, and, therefore, bring millions of Indians out of poverty. And I think we need to give that right of access of electricity to those poor people in India as well."
Federal Resources Minister Matt Canavan says the project will be the "biggest thing to happen to north Queensland since the Beatles came to Australia."
But on a more serious note, he says due diligence still needs to be done if the federal government is to lend Adani any money.
Townsville mayor Jenny Hill says the company has given her a commitment it will only advertise most of the jobs in regional newspapers.
"So if you're from Sydney and you think you're going to get a job up here, no, Sunshine, you better move up here, buy a house, be a local, and then we'll let you have a job."
Traditional owners say they will keep up their fight against the mine.
Carol Pryor is from the Juru people, who come from where Abbott Point is now situated.
"Shame on you. You bring shame on yourself, you bring shame on your people, by destroying a race of people here in Australia, by taking away their sacred sites and their spiritual connection to the land from which we've come."
