Big sinkhole filled with swirling water opens near Ipswich home, Australia

Image credit: Big sinkhole opens in Ipswich backyard - August 2, 2016
A big sinkhole filled with swirling water opened today, August 2, 2016, in a backyard of a house in Ipswich, west of Brisbane, Australia. A review of historical mine maps and plans in the area was underway as part of the investigation into the possible cause.
Since the homeowners first noticed it about 09:00 local time, the hole increased to about 8 meters (26 feet) in diameter.
Mayor Paul Pisasale said it could be related the old mines in the area.
"We've identified the fact that there's a shaft put in here many many years ago," he said.
The exploratory shaft is believed to be about 100 meters (328 feet) deep. "There’s no need to panic about a neighborhood falling in, and we will take all the steps to get the homeowners back in their house," Pisasale said.
The property has been cordoned off.
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I understand WATER can be a valuable thing to have there in Australia (?)