Australia's carbon tax will end coal-mining industry: Australian Coal Association

12:34, June 14, 2011      

Email | Print | Subscribe | Comments | Forum 

Australian federal government's proposed carbon tax will force coal mines to close, cost jobs and push new investment offshore, the Australian Coal Association (ACA) said on Tuesday.

The ACIL Tasman modeling, commissioned by ACA, projected that coal mines could close if government persisted with current plans for a carbon tax.

ACIL-Tasman surveyed 82 of 120 black coal-mines in Queensland and New South Wales, gaining sensitive cost data for each mine.

It then used assumptions about future carbon tax rates prices and future coal prices based on Australian Bureau of Agricultural and Resource Economics (ABARE) and financial analysts data.

The result projected that carbon pricing could greatly reduce the expected boost to the economy from the resources boom as potential mines do not go ahead.

It estimated that between 22,700 and 31,020 man-years of jobs will be forgone as a result of new projects not proceeding, and between 23 billion U.S. dollars and 45 billion U.S. dollars in export earnings will be forgone in the decade to 2021-22.

The study started with the assumption of an initial carbon cost of 21 U.S. dollars a tonne, with a four percent real increase to about 2015.

It showed that as the tax rises to more than 53 U.S. dollars a tonne, 18 coal-mines could close.
【1】 【2】

Source: Xinhua
  Weekly review  


  • Do you have anything to say?


Special Coverage
  • Xi Jinping visits Italy, Cuba, Uruguay, Chile
  • From drought to floods
Major headlines
Editor's Pick
  • Economy, gov't spending to dominate 1st major GOP presidential debate
  • Colorful Mood Exhibition of Chinese Artist Wang Yishi held at Czech Embassy in Beijing
  • Rain adds to watermelon growers' sales woes
  • Chinese vice premier meets former British PM Gordon Brown
  • Chinese, Kazakh presidents hold talks on partnership
  • Kim Jong Il meets senior Chinese official
Hot Forum Discussion