Feature

Mine sackings to ease as coal prices recover

There is positive news on the mining jobs horizon.
There is positive news on the mining jobs horizon. Jacinta Cummins\Dalby Herald

MINERS may face a reprieve this year with sackings likely to finally stop as conditions improve.

It will be a relief for workers after seemingly endless rounds of cost-cutting slashed thousands of jobs from the sector in Queensland last year.

The price of coking coal - used to create steel - is likely to be dragged up from the depths, delivering mining giants the extra funds they struggled to earn last year.

The market sits at $156 a tonne for now, although industry forecasts suggest it will hover about $170 for most of the year.

This price remains at almost half of the peak coking coal hit in mid-2011, when it was selling for $312 a tonne.

That premium was due to supply of coking coal being obliterated by floods that ravaged the state.

HSBC chief economist Paul Bloxham said the good news, although mild, should stop the razor gangs in the sector.

"I think what we saw was a lot of nervousness about the fall of commodity prices leading to some lay-offs," Mr Bloxham told APN from the Philippines.

"I suspect we won't see too many further lay-offs."

In November last year, Queensland Resources Council chief Michael Roche estimated up to 5000 workers - from contractors to office staff - had lost their jobs.

Even now, with Mr Bloxham's cautious optimism, it will not be entirely smooth sailing.

ANZ Bank released a report yesterday showing a lull in job advertisements published in the three months to December last year.

This prompted the bank to suggest the national unemployment rate may rise slightly from 5.2% to 5.75% by the end of this year.

The HSBC economist said "heat" generated from China would again deliver work to our shores.

He pointed to what he called "the Chinese infrastructure story" to justify his confidence in the mining industry.

He said China was developing 27 subway systems and 80 airports as it redoubled its focus on growth.

"Given the slowdown in 2012, authorities want to pull forward these projects to get more support for growth," Mr Bloxham said.

"We're talking massive development."

Topics:  jobs jobs news mining



10 best street art spots to take an Insta selfie

IF YOU are in need of a few trendy new Instagram snaps, then get your phone and selfie-stick ready and head to Brisbane.

Theatre royalty graces Brisbane stage

Don't miss Charles Edwards in this incredible theatre performance.

WHEN acting royalty comes to town, you sit up and take notice.

Don’t go chasing waterfalls…find them on these drives!

The Scenic Rim is just one place nearby that you'll love.

BRISBANE isn’t all bright lights and city slickers.

Your boots are made for walking these tours

Brisbane Greeters tours are a great way to learn the local history of the city.

YOU don’t need a bike or bus for a seriously good tour of Brisbane.

Drink where the cool kids do this summer

There are a bunch of new bars open in Brisbane, make sure you're there!

CHECK out these new funky bars.

Discover Brisbane’s laneway gems

Brisbane's laneways will surprise you.

NOT all of Brisbane City is as it seems…

Science Festival seriously awesome

Don't miss the World Science Festival Brisbane!

CALLING everyone who wants to see something totally cool.

Ambulance officers check 5 people after 2-vehicle collision

Emergency Services.

Authorities called to Adelaide Park crash

RGS scores thrilling win at home

ATTACKING RAID: RGS player Caleb Kennedy looks to get a pass away before he is wrapped up by the Ignatius Park defence in the open rugby match on Saturday.

Last-minute try decides result in rugby union clash

Rocky court wrap: 4 drug dealers, 3 child porn perverts in 1 week

Generic Rockhampton Court.

Big week for justice in Rockhampton courts

Local Partners

Theatre royalty graces Brisbane stage

WHEN acting royalty comes to town to direct the theatre performance of the year, you sit up and take notice.

Un-American tale makes Lion weakest link in Oscars line-up

Dev Patel in a scene from the movie Lion.

PSYCHOLOGY researchers find US films most likely to win at Oscars.

Can rightful winner Midnight take out golden Gosling in Oscars?

Can Lion pip La La Land at the post in this year's Oscars? Sunny Pawar (pictured) helped bring a powerful film to the big screen.

WILL Aussie film Lion triumph or will popular La La Land prevail?

Living End, Grinspoon stars hit stage for American Idiot

Chris Cheney of The Living End stars in the Australian production of Green Days musical American Idiot at Brisbane's QPAC Theatre.

TAKE a look behind the scenes of Green Day's American Idiot musical

Samuel L Jackson dismisses La La Land ahead of Oscars

Ryan Gosling and Emma Stone in a scene from the movie La La Land.

Hollywood actor and Oscars voter says Denzel should win top gong

'Why we drove 800km to buy a treehouse with a disco ball'

The new owners have planned a few updates, but will stick with much of the original design.

A couple travelled almost 800km for the home of their dreams.

The trick homeowners are using to buy more properties

Chantelle Subritzky leaves her home each week for Airbnb guests.

Queenslanders are going down this path to help pay their mortgages

Stunning home blends South Pacific beauty with Orient style

Immaculate residence with two outdoor living areas

$140k damage: landlord says property trashed, contaminated

He had what he calls "the tenants from hell"

Submarine, buses and 3000 tyres removed in $100K clean up

The list of things removed from this property is beyond astonishing

Ready to SELL your property?

Post Your Ad Here!