CLIVE Palmer's $8.8 billion Queensland coal project will cost the jobs of 4500 manufacturing and agriculture workers in the state by driving the dollar higher and forcing up wages and business costs, according to an economic analysis produced for the billionaire's own company.
The analysis by an independent consultancy documents the negative side-effects of Mr Palmer's China First project that may generate 6000 jobs during construction of the mine and its infrastructure, and boost coal exports by 40 million tonnes and $4.6bn a year.
The report says the project, 400km inland from Gladstone, will cause a "considerable decline" in manufacturing because the extra coal exports from July 2013 will put upward pressure on the exchange rate. It will also consume 55,000ha of farm land used for grazing in the mine catchment area.
Most of the job losses will occur over the next six years.
The Australian
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