November 2011 | Aluminium Weekly Market Tracker
Australia aluminium industry to contract due to carbon tax legislation
The now infamous Australian carbon tax legislation has become law and is expected to be implemented in July next year. The tax will affect 500 of Australia’s biggest polluters, with the aluminium companies being at the forefront of the industries that will see their production costs increased by the tax. This is due to the fact that Australian aluminium smelters use mainly coal as the electricity supply in the energy intensive smelting process and, therefore, have some of the highest emissions-generating power.
Australia’s controversial plan to tax carbon emissions has been passed by Australia’s Senate and is due to be implemented in July next year. The government is expected to impose a AU$23/tonne ($23.50/tonne) charge on carbon emission on the largest 500 polluting sectors. The tax is then set to increase by 2.5% pa until 2015 before moving to an emission trading scheme with the government...
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