Business

Smelter asks to be exempt from target to avoid job cuts

BOYNE Smelters Ltd has asked to be made exempt from paying $25 million a year under the Federal Government's Renewable Energy Target, or it has said more jobs will be slashed.

The RET is under review to consider its contribution in reducing emissions, its impact on electricity prices and energy markets, and its costs and benefits for the manufacturing sector and Australian households.

But in a submission to the RET review, Boyne Smelter Ltd general manager Joe Rea said BSL could not afford to continue to pay the subsidy.

"Manufacturing aluminium is highly electricity intensive and, as such, is highly exposed to the cost of the Renewable Energy Target," he said.

"Indeed, after the current partial exemption the RET still costs BSL around $25 million per annum."

He urged the panel to support a 100% exemption from the RET on the most exposed manufacturing industries such as aluminium smelting, as the owners of the globally traded commodity had no ability to pass costs through to customers.

"The continuation of these RET costs can only be offset by further reducing workforce and reducing capital expenditure."

Submissions are due on Friday.

Topics:  boyne smelters limited business federal government gladstone job cuts renewable energy



How to survive a bushfire in your car

IT SOUNDS like a nightmare, but it can happen.

Eight reasons to join the RFS

SPREAD across 93% of Queensland, the Rural Fire Service has about 36,000 volunteers. And you could be one of them.

What if my insurer gives me grief?

CLAIMING your insurance cover after a natural disaster can go one of two ways. It can be a breeze, or like pulling teeth.

$700K Gladstone project will open next week

The proposed Pump Track at Memorial Park in Gladstone.

Start date for Gladstone pump-track announced.

Gladstone doctor: Why you need to know the signs of a stroke

Gladstone Base Hospital, Park Street, Gladstone.



Photo Christopher Chan / The Observer

"The brain is a big computer and if part of your brain stops working

Number of Gladstone FIFO workers nearly halves: report

THE number of non-resident workers halves between 2013-2015

Number of FIFO workers nearly halves: report

Local Partners

Jennifer Lawrence gives keys to new partner

Oscar winner Jennifer Lawrence

Oscar winner settling down with new partner

Rogue One star proud to lead new Star Wars film

Felicity Jones leads the new Star Wars film

Star Wars lead proud to be in front in sci-fi

What's on the small screen this week

Ernie Dingo stars in the TV series Going Places with Ernie Dingo.

ERNIE Dingo stars in a new travel series and Seven airs the AACTAs.

Mandy Moore feels like she's 60

Mandy Moore sees herself as a 60-year-old rather than a 32-year-old

Goooodbye Hamish and Andy (from our radios)

Hamish and Andy

The pair have been on air since 2006

David Attenborough on facing his mortality

Sir David Attenborough in a scene from the TV special The Death of the Oceans.

Life without Sir David Attenborough is hard to imagine

Chinese locked out of Australian property market

The rules are different if you're a foreigner

The buyer was from China - the trouble started right there

Morrison signs off on new affordable rental model

Australia's Treasurer Scott Morrison speaks during a press conference after a meeting of the Council of Federal Financial Relations at Parliament House in Canberra, Friday, Dec. 2, 2016.

Scott Morrison signed off on development of a new financing model

Family scoop bargain $160K 'holiday home' in Gladstone

BARGAIN: A Biloela family has purchased 21 Ann St for $160,000. They try to get to Gladstone at least once a month.

ADVERTISED as "renovate or demolish", but snapped up for getaway.

REVEALED: Gladstone property prices hit lowest in downturn

Aerial View overlooking Kin Kora residential area, Gladstone.



Photo Brenda Strong / The Observer

GLADSTONE PROPERTY prices have hit their lowest since the bust.

Coast high-flyer's fight back from bankruptcy, $72m debt

Scott Juniper went from millionaire developer to declaring bankruptcy in2012, now he is back on top of his game again with new developments including this one in Coolum.

'Apocalyptic lending storm' causes financial collapse.

Ready to SELL your property?

Post Your Ad Here!