How will coal mining companies be affected by the carbon price?
The majority of Australian coal mines do not release significant amounts of greenhouse gases and will only have small liabilities under a carbon price. A number of mines, however, do release significant amount of greenhouse gases, mainly methane.
The Government’s Coal Sector Jobs Package provides $1.3 billion in assistance to support jobs in these gassy mines. In addition, the Coal Mining Abatement Technology Support Package will provide $70 million in grant funding via matching grants for research and demonstration of new technologies which will cut pollution in the industry.
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