Vale Welcomes Opposition's Proposed Amendments To Government's Cprs

Vale Australia Welcomes Opposition CPRS Amendments
Oct 21st 2009

Vale Australia Coal has welcomed the conservative Opposition's proposed amendments to the government's CPRS legislation, saying it represents a 'workable, sensible compromise' to protect employment in Australia's major industry while also reducing carbon pollution.

A spokesperson for Vale's Australian Coal business said Vale had been working with The Australian Coal Association and engaging with the Government and Opposition representatives to try to better understand the CPRS and to secure appropriate amendments to the scheme which has potential for significant negative impact on its coal business.

He said Vale agreed with the need to reduce carbon pollution and agreed on the need for an emissions trading scheme.

"Our concern is that the Government's current proposed scheme will have significant impacts for Australia's coal industry which is a major employer and a supporter of regional Australia.

"Under the current scheme, reduction of emissions from coal mining in Australia will be replaced by emissions in other countries that do not impose a cost on carbon.

"The Opposition's amendments appear workable and sensible and offer an alternative that will preserve jobs while reducing carbon emissions.

"There is considerable sense in legislating to ensure the uptake and use of all natural resources in a sustainable way and the amendments proposed by the Opposition will help to develop measures that better utilise coal seam gas as a natural resource.

"Equally, the aspirations to manage emissions to world's best practice are commendable. It is our hope that the amendments proposed by the Opposition will be taken up by the Government," the spokesperson said.

Vale is one of the world's largest resource companies.

The Vale Coal business, headquartered in Brisbane, Queensland, includes coal operations and projects in China, Africa, Colombia and Australia.

Vale's Australian Coal operations include the Integra opencut and underground mines near Singleton, NSW, the Carborough Downs Coal underground and Broadlea opencut near Moranbah in the Bowen Basin, Queensland, as well as a 50% stake in the nearby Isaac Plains Mine.

Vale is also developing the Ellensfield Coal Project near Moranbah andin partnership with Aquila Resourcesthe Eagle Downs Mine project, also near Moranbah.

Ends...

For further information, please contact:
Noel Herley,
Manager,
Vale Public Affairs and Community Relations-
07 3136 0941
0418794525.

SOURCE: Vale