File: Amplats posted a surge in annual earnings on higher metal prices.
JOHANNESBURG - Anglo American Platinum has spoken out against South Africa's new carbon tax.
On the sidelines of an industry conference in Johannesburg, Chief Executive Chris Griffith said the carbon tax would cost Amplats around R50-million over the next two years, rising to between R200-million and R300-million from 2021 when a tax on electricity use is included.
Griffith said this would pile pressure on an industry already grappling with higher energy and labour costs.
In February, Parliament approved a long-delayed carbon tax bill as part of plans to reduce harmful emissions in Africa’s most industrialised economy.