Coal in­dus­try ca­pac­ity dips due to floods

Townsville Bulletin - - Investor -

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.

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