BusinessLive reports that a senior Treasury official has dismissed as a "red herring" the mining industry’s concerns over a relatively new tax on carbon dioxide emissions, saying the levy was too low to add up to unbearable costs.  

The tax, which was enshrined into law in May, faced opposition from big polluters such as miners, steelmakers and Eskom, which had warned it would eat into profits and push up electricity prices.  Anglo American Platinum has said the tax could cost it up to R300m, while the Minerals Council of SA (previously known as the Chamber of Mines) warned it could lead to 6,000 job losses a year.  "In the short term, the impact of the carbon tax on the price of electricity is minimal," said Treasury deputy director-general Ismail Momoniat on the sidelines of a coal industry conference on Wednesday.  He went on to say that the challenges facing the mining sector could hardly be attributed to the carbon tax, which seeks to lower carbon dioxide emissions to ensure SA complies with global agreements such as the Paris accord to combat climate change.  The mining industry is already taking strain from rising costs, especially electricity price increases, which it fears carbon tax will affect further.

• Read the full original of Lisa Steyn’s report in the above regard at BusinessLive

Get other news reports at the SA Labour News home page