South Africa’s new carbon tax, slated to come into effect this June, is expected to cost Anglo American Platinum up to R300m (USD 21.5M) over the first three years, according to CEO Chris Griffith.
The new tax has already been criticised by the country’s Minerals Council who have suggested the increased price of carbon will result in the loss of 6,836 jobs.
While the council recognises the need for carbon taxation as part of a “toolbox” for dealing with climate change, the council’s CEO, Roger Baxter, argues that the South African Government sound focus its efforts on enabling mining companies to invest in renewable energy sources.
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