INTERNATIONAL COAL NEWS

Coal mines yet to recover from Qld floods

OF the 54 coal mines impacted by floods in Queensland, 45 are operating at or above 80% productio...

Blair Price

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Bligh allegedly told Dow Jones Newswires that she expects all of the mines would be 100% operational by the end of 2011.

Bligh reportedly said coal volumes in the state were estimated to be 11% lower for the recent financial year compared to the previous year.

Last week the Queensland Resources Council revealed that the state’s output was 40 million tonnes short of projections for the 2010-11 financial year – made prior to the devastating wet season.

“The 163 million tonne total confirmed by port data is 21 million tonnes down on the previous year and just four million above what we were able to export during the global financial crisis,” QRC chief executive Michael Roche said.

“Exports for the month of June 2011 were 14.7 million tonnes – the strongest monthly total in six months – but 19 per cent below June 2010 figures.

“Unfortunately, this confirms our worst case scenario in that the industry is still working at around 80 per cent capacity, which is not surprising when you consider it is carrying a Sydney Harbour's worth of water into the next wet season.”

He said coal companies were investing heavily in preparations which included additional onsite water storage, pipelines, pumps and water treatment plants.

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