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US Steel to seek emissions compensation

EAST Slovakia's steel maker, US Steel Košice, will ask the Slovak government to compensate possible losses arising from the CO2 emissions' allocations to be introduced in compliance with the European directive on emissions trading, the TASR news agency reported.

Speaking to reporters, the company's outgoing president, Christopher Navetta, said that US Steel could determine losses more specifically once the CO2 emissions' trading began.

He added that the company had its emissions allowance under the Slovak national allocation plan cut by 8 percent, which can adversely affect the steel mill's output.

The EU and the Slovak government's conduct in reallocation was unfair, and the corporation will defend its business interests, said Navetta.

US Steel filed a legal complaint with an international court calling for the directives to cut the Slovak allocation plan for CO2 emissions to be rescinded.

It will also urge the Slovak government to compensate it for losses if it is unable to meet its contractual pledges.

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