Floods hit Queensland coal output

摘要

The floods and cyclone that battered Queensland over the summer will cost the economy $9bn after new estimates showed lost coal production would be much higher than initially forecast. The latest Treasury analysis shows coal production will drop by $6bn in the current financial year, $lbn more than predicted as mines in Queensland continue to dry out in the wake of January's floods. Treasury estimates Queensland coal exports between last December and June could be about 22m tonnes lower as a result of the floods. It warns that the reconstruction effort will be costly for both the public and private sectors, hitting the government's tax revenue and putting pressure on the fiscal strategy of the commonwealth government.