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THE METAL sector, including aluminium, may be eligible for Federal compensation to help companies deal with the impact of carbon trading.
The Federal Government will be spending $9b to assist businesses and industries impacted by carbon trading up to 2012, but companies will only be eligible if they complete audits by 1 May 2009.
The Minister for Climate Change, Penny Wong, released guidelines on how businesses will need to account for their greenhouse gas emissions. 33 production processes are eligible for subsidy, including steel and iron making, and lead and zinc smelting.
Industries which are unable to reduce emissions, or which face competition from non-carbon-restricted countries, will receive the most money. Aluminium smelters, along with the steel industry, are expected to have 90% of their carbon emissions covered by free permits.
It is expected there will be a great demand for carbon assessments over the next three months. False or misleading audit data can lead to legal sanctions.
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