Tuesday, April 28, 2009

Coal miner warns emissions scheme to cost jobs

By Melissa Maddison

ABC News Online, 29 April 2009


A major coal mining company says more job losses are likely if changes are not made to the proposed emissions trading scheme (ETS).

The chief executive officer of Anglo Coal, Seamus French, told a Senate inquiry into the proposed scheme that as it currently stands, it would have a significant impact on its operations and that assistance would be needed to protect coal mining jobs.

Mr French told the hearing in Brisbane yesterday that under the current design, it would cost Anglo Coal $118 million per year to buy carbon permits - which he says would have wiped out the company's average annual profit over the past five years.

He says there is currently no technology available that would allow Anglo to reduce emissions from its operations.

Mr French is calling for the scheme to be amended to either include coal mining in the industry assistance scheme, or phase in the auction of carbon permits.

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