Not that this matters much for the deficit, which is now irrelevant, but it will matter to the Australian dollar. Via the AFR:
Glencore is working on plans to slash output from Australian coal mines in response to weak prices, in a move that will reinforce the Swiss miner’s reputation as the most active manager of supply and demand in global commodity markets.
…The move comes after prices for top-quality thermal coal from NSW have slumped from more than $US120 a tonne to just $US51 a tonne over the past two years, leaving an estimated 30 per cent of local mines in the red.