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Tuesday, May 10, 2005

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EU Reach Australia

Australia accounts for 96 per cent of all nickel imports to the European Union, 24 per cent of the continent's lead and 21 per cent of its zinc.

Come The Age . Australian miners could be $100 million out of pocket if the European Union presses ahead with REACH laws aimed at restricting potentially harmful imports, a new report has found.

A study by the (Australian Bureau of Agricultural and Resource Economics), ABARE commissioned by the federal government and the Minerals Council of Australia , follows concerns about the impact of the proposed laws.

The REACH (registration, evaluation and authorisation on chemicals) Directive are aimed at improving the screening of metal imports that could potentially cause health problems.

The study found under certain circumstances zinc exports to the European Union could fall 16 per cent by 2010, at a cost to the Australian economy of $100 million. And nickel and lead exports could fall by 11.8 per cent and 6 per cent respectively.

Further studies are to be done on other Australian mineral exports affected by the REACH laws, including its $300 million-a-year iron ore exports and $100 million-a-year copper exports.

See the comments in Das Reich

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