Three years before it has yet to really produce coal, the northern Galilee Basin is already fully booked to Indian and Chinese coal mining companies.

The Australian Newspaper said India's Adani Group already owns some 7.8 billion tones into the Queensland coal field, and is poised to pay an additional US$1.3 billion for a 7.9 billion-tonne coal tenement. While Australian billionaire Clive Palmer owns some 3.7 billion tones into the field, which reports say he is developing with Chinese business partners.

The northern Galilee basin has a total of 20 billion tonnes production capacity.

What's left is a 1.2 billion tonne share that has been reserved to Australia's Bandanna Energy and American investment firm AMCI.

The portfolio of owners of northern Galilee basin had been criticized as 83 percent controlled by foreign investors.

Indian companies have been actively searching and purchasing coal assets in different countries. Its fast-improving economy relies heavily on coal for power generation to develop power projects, steel and other plants.

Global demand for Australia's mineral resources push the country towards further economic improvement, mining and energy exports soaring 27 percent in the 12 months to June to Aus$175 billion (US$179 billion).