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Galilee Basin mines will slash coal output, jobs elsewhere, Wood Mackenzie says

The ABC's Stephen Long reports (6.7.17) on mining industry research which highlights the potential job losses and production decline from existing Australian coal mines if the proposed Adani Carmichael project proceeds.

'Jobs and exports from existing coal regions will be decimated if the Galilee Basin is developed for coal mining, according to new research.

'Globally renowned resource analytics firm Wood Mackenzie, which conducted the research, is forecasting massive reductions in future coal output from the NSW Hunter Valley and significant falls in Queensland's Bowen and Surat basins.

'The Federal and Queensland governments have been stressing the job gains and economic benefits if coal mining goes ahead in the Galilee Basin, making it the first new coal region to be exploited in 50 years. Both governments are prepared to back investment with subsidies.

'However, the new research suggests that while the development of the Galilee Basin would expand coal exports overall, it would come at a severe cost to jobs and economies in other regions.'

 

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