This was in the Australian Financial Review overnight

Coal price doubling in three months could deliver $25b economic boost

(The AFR might be gated)

  • The mining industry has reached an agreement with Japanese steel makers that prices for most Australian coking coal will jump 117 per cent in just three months, an increase that means that the benefit of rising prices could be felt across the economy.
  • The agreement means most Australian coking coal will be sold for $US200 per tonne over the next three months, compared with $US81 per tonne in the March quarter.
  • The boom in coal prices could add 2 per cent to national income this year, boost federal budget revenues by close to $7 billion and start wages growing again, some economists say

More at the article.