The Mackay Daily Mercury’s Melissa Grant has written a very useful article on the economic cost of the floods:

Economies lose billions

On the impact of the floods, with a particular reference to mining in central Queensland, Ms Grant notes:

Production has come to a halt or slowed at dozens of mines in the region, costing tens of millions of dollars each day, while the cost to Queensland’s agricultural industry is expected to top $1billion.

A resource economist has also predicted the State Government could lose between $200million and $300million in mining royalties, as mining operations face production losses of between 10 and 20 per cent.

Resource economist John Rolfe, based at CQU’s Rockhampton campus, said loss of coal production from the floods would exceed that resulting from 2008 floods.

“After the 2008 floods, mining companies lost $2billion in production and were left with another $1billion of additional costs,” he said.

“This one will be more expensive but we won’t know how expensive for some time.”