Talbot died on June 19 when the plane he and fellow Sundance Resources directors were travelling on crashed in the Republic of Congo.

“As well as his business success, Ken will be best remembered for his big heart and as a generous philanthropist,’ Queensland Resources Council chief executive Michael Roche said.

Last year Talbot and his wife Amanda established the Talbot Family Foundation to increase their philanthropic reach.

“Ken was a strong supporter of QRC’s education initiatives and in the wider world donated significant amounts to arts and education, cultural heritage, and health and lifestyle causes,” Roche said.

Talbot was formerly managing director and chief executive officer of Macarthur Coal from 2001-06 and more recently became involved with Sundance through an investment by his company Talbot Group.

“Prior to his untimely death in June this year, Ken had amassed more than 36 years experience in the coal industry in which he was a pioneer, opening up a whole new market for low volatile coals,” Roche said.

“A respected member of the QRC board from 2002 to 2007, Ken was a visionary who is sadly missed, but never forgotten.”

Talbot Group chairman Don Nissen accepted the award, which was presented by outgoing QRC president and Macarthur CEO Nicole Hollows.

Talbot’s wife and two of his four children were in attendance.