The Federal Government’s proposed emissions trading scheme will expose more than 90% of Australia’s mineral exports to the highest carbon costs in the world, Minerals Council of Australia deputy CEO Brendan Pearson told MINING DAILY.
Pearson said the coal export sector would confront a $5 billion carbon burden in the first five years of the scheme.
“Over the same period, the gold sector will take a $700 million hit to its bottom line. None of their competitors will face any such costs,” Pearson said.
“At a time when the global slowdown, high input costs and falling commodity prices have led to almost 9000 job losses in the mining sector, there is little doubt the imposition of further significant costs will have an adverse impact on jobs, competitiveness and project viability.
“With the global financial crisis impacting heavily on Australia, the Federal Government must ensure that its own policy plans don’t make the situation worse.”
Yet despite the ongoing downturn in the resources sector, the Federal Government has said they will not be deterred from implementing the emissions trading scheme.
Climate Change Minister Penny Wong yesterday met with industry leaders in Gladstone to discuss fears the policy could cost more jobs in central Queensland.
“The Government is very aware of the current economic situation, that’s why the Government is working hard to continue to support Australian jobs,” Senator Wong said.
“Delaying action on climate change is going to cost us more and simply handball the problem to people down the track, to our children and grandchildren.”