Quote:

http://www.coalguru.com/queensland_coal_....
20-08-2012

Following is the excerpts from speech by Mr Michael Roche CEO of Queensland Resources Council to the 8th Coaltrans Australia Conference in Brisbane:

"The government of the day is elected to take hard decisions. We have to respect those decisions because they are never made lightly. Our role as the peak representative body for resource sector developers in Queensland is to keep the government informed of industry realities and consequences."

"What we have told the Queensland Government clearly and with the best interests of the state in mind is that in many cases, the Queensland coal industry is already globally uncompetitive. At current prices, most thermal coal mines in this state are either running at a loss or struggling to stay in the black. It is not a position unique to thermal coal because the contagion is spreading quickly among our premium coking coal operations."

"The reality is that most QRC coal members are well down the track of extensive cost reviews. Further job losses are a certainty. The bottom line in 2012 is that many Queensland coal producers are now generating cash losses."