Australian coal industry predicts spate of mining closures

Australia’s coalmining axis will shift to the north and west on the back of the Gillard government’s carbon tax, according to industry leaders left frustrated by the plan revealed yesterday by Prime Minister Julia Gillard.

Despite unveiling a $1.264 billion assistance package for what it believes will be the worst-affected coal mines, the Gillard government was accused by the Australian Coal Association of wrongly anticipating where the tax pain would be felt.