Kurri Kurri aluminium smelter modernisation program under threat

NORSK Hydro says the Kurri Kurri aluminium smelter might not be modernised, because of pressures from the emissions trading scheme and newly-revealed renewable energy targets. There is a $4b modernisation upgrade planned for the Kurri Kurri aluminium smelter. However, Norsk Hydro says these costs could blow out due to the emissions trading scheme. Norsk Hydro says it would need to spend up to $180m between now and 2030, the extra costs would eat into 90% of its profits. If the Kurri Kurri aluminium smelter expansion is cancelled, the company says it will shed 3000 permanent jobs and 15,000 construction jobs. It is at real risk of failing because the plant uses a lot of electricity and is at a disadvantage due to the economy. Norsk Hydro says it has managed to slash carbon dioxide emissions at the smelter by 75% since 1990. source;www.metalworker.com.au