Australian Coal Industry sees mine closure, job losses, $16.5 bn net cost increase from carbon price
The Australian coal industry labels carbon price “really bad policy”. Marginal mines will close, according to Ralph Hillman, CEO of the ACA.
While the coal industry will see a cash compensation fund of up to $1.5 bn over 5 years, cost implications over ten years are deemed to be $18bn.
The ACA sees job losses in NSW and parts of Queensland. The Illawarra, Hunter, in NSW will bear the brunt.
Hillman predicts marginal production cuts will be picked up by other export markets.