The Australian coal industry is expected to receive only $1.275 billion in compensation for the introduction of the carbon tax, instead of the $1.55 billion initially promised by Kevin Rudd under his carbon reduction scheme.
In a speech to be delivered today to the National Press Club, ACA executive director Ralph Hillman is expected to announce an industry campaign against the carbon tax.
Hillman claims the tax will lead to a loss of opportunities in the Australian coal industry.
“The impact of the carbon tax on the black coal mining industry will be felt mainly in regional NSW and Queensland, with nearly 3000 jobs at risk in the coal sector in NSW within the first three years," Hillman said.
This figure is based on a survey of 82 coal mines by ACIL Tasman.
"In Queensland over 1000 jobs are at risk within three years.
“The carbon tax will put thousands of jobs at risk and push billions of investment dollars in new mining developments offshore to our competitors.
“The most frustrating part is, despite losing coal mining jobs and investment, global greenhouse gas emissions could actually rise as coal is mined from countries with more emissions intensive and less energy efficient coal."
Hillman said the ACA supports putting a price on carbon, but not one that causes Australian mines to close and shift production to other countries with no reduction in global greenhouse gas emissions.
The impact of the carbon tax will accelerate over time as it increases to over $50 a tonne with 18 mines at risk of closure within nine years.
In addition, the report warns that up to 37% of employment in potential new mine developments could be destroyed.