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BHP boosted profits 28% in 2026 but closed a Queensland coal mine and cut 750 jobs over high royalties, while its share price rose and it paid a dividend.
BHP reported a 28% rise in half-year profit to $5.64 billion in 2026, driven by strong copper and gold performance, but announced the closure of its Saraji South coal mine in Queensland and 750 job cuts, citing high state royalties that exceed profits.
Despite rising coal output, the company said tax payments now exceed earnings due to Queensland’s tiered royalty system, which can reach 40% on high-priced coal.
The government maintains the tax structure is essential for public services, rejecting calls to change it despite industry warnings of job losses.
BHP’s share price rose 6.7%, and it declared a US73-cent dividend.
BHP aumentó las ganancias en un 28% en 2026, pero cerró una mina de carbón de Queensland y recortó 750 empleos debido a las altas regalías, mientras que el precio de sus acciones aumentó y pagó un dividendo.