Rio Tinto Proposes Amendments To Australian Carbon Scheme
October 15 2009 - 6:15PM
Dow Jones News
Rio Tinto Ltd. (RTP) said Friday Australia's proposed carbon
pollution reduction scheme, or CPRS, needs to be amended or it will
hurt the nation's mining industry and cost jobs.
The miner has proposed four amendments that would need to be
made to the scheme before it would support the passage of the
legislation through parliament.
Rio said the current scheme disproportionately impacts the coal,
aluminum and alumina industries and threatens the viability of
low-emissions technology.
It called for amendments to the scheme to ensure fair treatment
of the coal industry and support for low-emissions technology.
The miner also called for changes to the point where carbon
liability is imposed to ensure the carbon price signal works
effectively.
The annual permit reduction for trade exposed industries should
also be removed until international competitors face similar carbon
constraints, Rio said.
"Without these changes, the CPRS legislation will affect the
international competitiveness of Australian resources companies and
will have long-term consequences for Australian jobs and the
Australian resources sector's ability to compete in global
markets," Rio said in a statement.
-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094;
alex.wilson@dowjones.com