Queensland mining industry still strong: Tim Nicholls Treasurer Tim Nicholls is optimistic about the Queensland mining industry. Reports of the death of the mining boom have been greatly "overplayed" says the state's treasurer. Tim Nicholls said while the price of coal had "moderated," the volumes shipped continued to increase. The decade-long boom, which helped prop up both the Queensland and Western Australia economies, has slowed in recent months. Thousands of people have been laid off as a result. But Mr Nicholls said the government did not believe the boom had ended and said the figures bore that out. "In the months of July and August the total volume of seaborne coal shipped out of Queensland ports was a record," he told attendees at a Queensland Property Council lunch on Wednesday. We shipped over 34 million tonnes over those two months. Over 16.4 million tonnes in July alone. Only in September, the Premier opened BMA's new Daunia mine in the state's central north and last week I was in Emerald to open Rio's new Kestrel south mine, a 20-year extension that will deliver over five million tonnes per annum, of some of the best coking coal (a key input in the production of steel) in the world to the rest of the world. Previously, Premier Campbell Newman had expressed frustration at the former Labor government for holding up the approvals process, blaming it for the downturn in the mining industry. Mr Nicholls said the Memorandum of Understanding signed between Mr Newman and Prime Minister Tony Abbott for a "one-stop shop" for environmental approvals last week was an important step in setting the industry back to rights. "I think there has been a return to confidence and I think you are already seeing that in your own businesses, you are certainly feel it in the mood as you travel around the state," he said. There is no doubt there is a renewed vigour in the state of Queensland now that the federal election has been completed and there is a clear set of policy and directions out of Canberra. Mr Nicholls said preliminary figures from the state accounts showed the state's economy grew by 4 percent in the 2012/13 financial year, not the predicted 3.5 per cent. "So we actually have a stronger result than we anticipated at the time when we set the budget," he said. And I think that is a very positive outcome. But the Opposition has been quick to point out that it has not all been positive news for the state. The latest ABS Labour Force figures released earlier this month showed unemployment remained at 6 per cent, higher than the 5.5 per cent rate it sat at when the government was elected in March 2012. Mr Nicholls has admitted that the government's 4 per cent unemployment target over six years is a "stretch" target.