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2009 Annual Report - Minerals Council of Australia

This Annual Report outlines the Minerals Council of Australia?s activities, achievements and financial performance for the 2009 calendar year. The MCA?s performance is reported within the framework of the 2009 Balanced Business Plan, which is derived from, and forms a part of, the MCA?s three-year Balanced Industry Strategy for the Australian minerals industry.

DEFEAT OF CARBON POLLUTION REDUCTION SCHEME: TIME TO GET THE DESIGN RIGHT

The failure of the emissions trading legislation to pass the Senate today provides the Australian Parliament with an opportunity to design a carbon pricing scheme that reduces emissions, supports new technologies and protects the competitiveness of Australia?s export sectors. The Government?s Carbon Pollution Reduction Scheme failed to meet these three critical criteria.

CPRS DEAL – A $114 BILLION GAMBLE ON A GLOBAL CLIMATE DEAL AT COPENHAGEN

Today?s deal on the Carbon Pollution Reduction Scheme means it is imperative for the United Nations climate talks in Copenhagen to deliver a binding agreement so that Australia?s exporters are competing on a level playing field and all emitters are taking comparable steps to reduce greenhouse gases. If the Copenhagen meeting fails to deliver, Australian exporters will be saddled with the highest carbon costs in the world while their competitors in both developed and developing nations face no such costs. Without an agreement at Copenhagen global greenhouse gas levels will increase despite Australia?s CPRS.

CPRS REVENUE FORECASTS BASED ON FLAWED ASSUMPTIONS: NEW REPORT

Exchange rate and carbon price assumptions used by the Federal Treasury to forecast a deficit for the Carbon Pollution Reduction Scheme are completely at odds with forecasts by the International Monetary Fund, the International Energy Agency, private sector projections and historical experience, a new report has found.

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