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The Forum > General Discussion > Thermal coal and the budget

Thermal coal and the budget

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With thermal coal fast becoming 'no longer worth it' here is oz, are we about to see the end of the mining boom for coal.

It has been suggested that unless a certain percentage of the coal reserve is 'coking grade' the mine is no longer viable and will therefore be mothballed.

In fact, a huge area west of Bowen, is all thermal coal and projects here, including one from the much hated Gena has been canned, siting unviable project due to huge production costs here is oz.

So, how will this effect the federal budget, given that the worlds smartest man used projected figures to formulate his budget, in the assumption that the mining tax, IR changes and carbon tax would not effect the boom.

There are about to be a lot of disillusioned workers out there, many of whom have forgotten how the other half live.

Will this be yet another failure from this government that has achieved what must be a gold medal for failures.
Posted by rehctub, Sunday, 12 August 2012 6:08:10 AM
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There's the growth theory disappearing in a cloud of dust !
Posted by individual, Sunday, 12 August 2012 9:59:59 AM
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Over supply will cause less demand, so where is the problem you have.
Posted by 579, Sunday, 12 August 2012 12:25:31 PM
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The problem 579 is that our production costs are now so high, that China is now building a rail link into Momgolia as their thermal coal's production cost is a fraction of ours.

But, that's the side issue, how do you propose your beloved labor party is going to achieve it's forecasted outcomes for the budget.

Remember, it's a surplus at any cost, those were the words from the worlds smartest man.
Posted by rehctub, Sunday, 12 August 2012 8:36:54 PM
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Leave the nuts and bolts to the people we elected to do the job.
You should be more worried about the antics of CN, he will drag QLD back another 30 years. The state is stuck in the 70's. You only have to drive on the roads to come to that conclusion.
Posted by 579, Monday, 13 August 2012 10:28:59 AM
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Leave it to those we elected ? You got to be kidding.
They don't know which way is up !

World peak coal is expected about 2025. Some say earlier.
Solar and wind can't do it and even the dewey eyed are starting to realise that.
Once it starts to be realised by those that really matter the mines
will be reopened or not closed in the first place.
Do you really think people are going to accept freezing in the dark ?
The politicians know about peak coal, but just like with oil they have
a wink wink nudge nudge, say no more policy on it.

The US has passed peak coal fairly recently and are now experiencing
high costs because of the poor energy per ton. It is great for
Chicago & North Western railway as they are a major coal carrier.
Even more trains needed.

What we need to do 10 years ago was to stop export of coal & gas.
We will definitely need it if geothermal fails.
Posted by Bazz, Monday, 13 August 2012 4:17:30 PM
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