Carbon Pollution Reduction Scheme results in Australian coal cutbacks

International MiningAt least another 10,000 jobs will go, 16 coal mines will close and State Governments will lose substantial royalties as a direct impact of the Carbon Pollution Reduction Scheme (CPRS), according to independent analysis released by the Australian Coal Association (ACA). These job losses are in addition to thousands of coal jobs already lost since December as a result of the global financial crisis, according to ACA, Executive Director, Ralph Hillman. “Over the first ten years of the ETS scheme, the extra cost burden will ensure further job losses from mining companies cutting costs at mines that remain operating and jobs will also go as a result of both brownfield and greenfield investment moving to countries with lower costs than Australia,” Hillman said. (more…)

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