ABOUT 7000 jobs have been lost from Queensland’s coal sector in the past 15 months, according to the industry.
In the past week about 1000 jobs disappeared as some of the world’s biggest miners, Vale, Glencore and Peabody, adjusted to the new realities of the market in which the cost of producing coal is ”line ball” with prices, the Courier-Mail reports.
Thousands more jobs have disappeared from service companies or contractors.
Unions said the central Queensland towns of Tieri and Glenden would be devastated by the loss of about 450 jobs this week at the Oaky and Newlands mines, but have rejected any suggestion that big pay increases had been a factor.
The cost of abandoned coal and infrastructure projects is now about $10 billion in lost investment and the numbers of jobs that won’t be created would be in the thousands.A handful of massive coal projects are also now extremely doubtful, particularly in the Galilee Basin, not just because of poor prices but also because of a lack of investment funds.
BHP Billiton’s joint venture, BMA, has also closed high-cost mines and opened others while the coal seam gas industry has sparked as many as 30,000 jobs in the past year.
Chosen excerpts by Job Market Monitor
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