Coal mining giant Peabody Energy has sold a 12,722-hectare pastoral holding in Central Queensland that was once earmarked for a major mining project, to former Rich Lister and mining entrepreneur Jim Gorman for $27 million.

The property known as Codrilla in Valkyrie, a rural hamlet about 140 km south of Mackay, was transferred to Peabody as part of its $5.1 billion acquisition of Macarthur Coal in 2011.