Hundreds of mine workers will lose their jobs when the Isaac Plains Mine in central Queensland closes next January.
Hundreds of mine workers will lose their jobs when another central Queensland mine shuts next year.
The Queensland Resources Council (QRC) says the foreign-owned Isaac Plains Mine in the Bowen Basin will close in January next year, ABC radio reports.
The announcement comes days after BHP Billiton Mitsubishi Alliance (BMA) said it would slash 700 jobs in its Queensland coal mines.
QRC’s Michael Roche says the global coal market is oversupplied and prices have dropped.
“But that oversupply will work through over the next year or so,” he said.
“There are many mines in Queensland that are continuing to grow and prosper, but for the more marginal mines, these are very challenging times.”
Queensland Premier Campbell Newman has vowed to continue investing in coal despite the industry’s bleak outlook.