Even if thermal and coking coal prices dropped from today's spot...

Even if thermal and coking coal prices dropped from today's spot prices by 25 per cent, they'd still be high in historic terms. I've not done the calculations but even on a CPI-adjusted basis compared to previous years, prices are very good for owners of mines.

This is what the Federal Government says:

"...Prices of metallurgical coal, however, have jumped due to supply shortages amid a rebound in steel and auto production in major economies. Met coal prices are now forecast to average $176 a tonne in 2021-22, up from an earlier projection of $163, boosting export earnings by 44% to A$33 billion this year.

Prices of thermal coal, used in power stations, have been revised up to average $98 a tonne this year, which would see export earnings jump 50% to A$24 billion in 2021-22, amid soaring demand in Asia..."

These figures may be underestimates.

It's not just the direct employment mines offer to staff, but numerous contractors in all manners of industry benefit. There are numerous cities and towns that win from the resultant economic activity, from Wollongong in NSW to Muswellbrook in NSWW and Mackay in Queensland.

Many voters in these areas may be highly suspicious of Labor/Greens in a string of marginal electorates. It remains to be seen whether this will see the Coalition, which has a clear record of supporting jobs in rural Australia, returned to office, as redistributions in Victoria and WA favour Labor.