Coal industry capacity dips due to floods
QUEENSLAND’S coal industry is operating at around two-thirds the capacity of 12 months ago as a consequence of the recent heavy flooding, according to the Queensland Resources Council.
Council chief executive Michael Roche said yesterday new data showed that Queensland exported eight million tonnes of coal in February compared with 12 million tonnes in February 2010.
‘‘ This is only one month’s worth of exports, but the numbers are consistent with company reports and QRC estimates of a 30 million tonne downturn in coal production in 2010-11 caused by wet season floods,’’ he said.
The QRC and independent consultants have forecast coal production losses of at least $ 5 billion in this financial year alone, with resulti n g r o y a l t i e s l o s s e s o f $ 400 million.