The Australian arm of the world's largest aluminum producer has warned that a higher carbon cost is adding to the risk that Australia will lose jobs and investments to China's refineries and smelters.

Mr John Hannagan chairman of UC Rusal Australia said that China's producers were already competing aggressively with Australia which has six smelters and seven refineries but faced a significantly lower carbon price.

(Sourced from www.theaustralian.com.au)