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Alcoa Gets First Free Carbon Permits From Australian Regulator

Alcoa, the largest U.S. aluminum producer, and Queensland Nitrates are the first to get free carbon permits from Australia through an A$8.6 billion ($8.9 billion) program to help businesses facing global competition.

The companies are getting permits under the Jobs and Competitiveness Program, according to a statement today from Australia’s Clean Energy Regulator. Businesses such as aluminum smelters and steelmakers, which face constraints in their ability to pass through costs in global markets, can apply for free units over three years, according to the regulator.