Alcoa crises / opportunity for ECT.
Alcoa needs to find $230 million dollars per year to pay for LYP carbon emission output under the new contracts effective from 2014.
What does a 5 million ton coldry plant funded by federal gov 10 billion dollars available from the climate change act 2011 achieve.
Offsets the entire amount.Secures operation.
3 million tons BCE for export ,$60 TO $70 CONSERVATIVE MARGINS based on today's price $110 for coal with a calorific value between 5400 to 5800. Australian coal is viewed as a quality product.
$180 to $240 million dollars.
2 million tons of BCE for local use , achieving a 50% in carbon reductions.
$13 at 2 million tons $26 million, It would be far more profitable to sell the BCE overseas ,but then LYP needs to recieve its 1.2 billion dollars.
Yes Cransberg would like the media to believe it is not the carbon tax for Alcoa TO REVIEW operations in Geelong,but reality is power costs are one of the highest expenses in aluminium production.
"Keep alcoa operating at all costs "? hopefully Ian Nethercote has told alcoa about Coldry,because they have an agreement to fulfill as part of the new contracts effective 2014.
pressure mounting on government to find answers that are economically viable and coldry is one.
the sooner the DFT is completed ,government and LYP endorsement IMO will follow.
http://www.geelongadvertiser.com.au/article/2012/02/09/306591_news.html
Corio MP Richard Marles said the Federal Government would "leave no stone unturned" in helping to save the jobs of the Geelong workers.
"We need to sit down with Alcoa over the next few months as this review is undertaken and look at all the possibilities about what can be done," he said.
http://www.alcoa.com/australia/en/info_page/smelting_power_contracts_and_environment.asp
Under this agreement, Loy Yang Power will present an annual carbon plan to Alcoa outlining proposals and opportunities to reduce greenhouse gas emissions.
It ensures Alcoa, and its joint venture partners, can participate in any project aimed at reducing Loy Yang Power’s greenhouse gas emissions.
This agreement becomes part of Alcoa’s overall climate change strategy.
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