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BHP warns Queensland coal jobs are at risk unless its royalty system is reformed, citing excessive taxes and unsustainable costs.
BHP warns that more mining jobs in Queensland could be lost if the state’s coal royalty system isn’t reformed, citing unsustainable tax burdens that led to the mothballing of its Saraji South metallurgical coal mine, resulting in about 750 job cuts.
The company says it paid 67 cents in taxes and royalties for every dollar in profit, calling the current tiered system—ranging from 7% to 40% based on coal prices—unworkable.
Despite Premier David Crisafulli’s refusal to change the scheme, BHP is also closing its Mt Arthur thermal coal mine in NSW, though some projects may restart if market conditions improve.
Chair Ross McEwan emphasized the need for competitive tax policies, noting Australia’s high corporate tax rate and capital-intensive mining projects.
BHP’s share price dropped to $42.58 amid the announcements.
BHP advierte que los empleos del carbón de Queensland están en riesgo a menos que su sistema de regalías sea reformado, citando impuestos excesivos y costos insostenibles.