Forrest Calls for a Carbon Levy on Australian Fossil Fuels

Australia should impose a proposed carbon levy on fossil fuel producers to accelerate efforts to meet climate targets, according to billionaire mining-to-clean energy tycoon Andrew Forrest. “It’s high time that industry that causes global warming contributes to alleviating its harm,” said Forrest, speaking to the National Press Club in Canberra, Australia. Forrest, who is the executive chairman of Fortescue Metals, also owns Wyloo Metals. He formed Wyloo Metals to buy Mincor’s nickel mining assets in Western Australia for A$750 million in 2023, positioning them as “green” nickel producers. In January, Wyloo announced it would place the mines on care and maintenance at the end of May. Nickel smelters require power and Western Australian nickel producers cannot compete with Indonesian nickel smelters, who rely on coal-fired power. So, it’s easy to see why he would be bitter about fossil fuels.