Reid liquidated the Irvinebank Mining Company in 1919 and Queensland Premier Edward Theodore who, as a former miner, had formed the Amalgamated Workers Association in Irvinebank, bought the Loudoun Mill, tramway, aerial ropeways and various mines for £22,500 as a State Enterprise on 25 October 1919.
In 1981 the State Government announced the inevitable - the decision to transfer the treatment works, the last of the State Enterprises established by Premier Theodore.