BHP BLAMES ‘COAL TAX’ FOR JOB LAYOFFS. BUT THERE’S OBVIOUS REASONS COALMINES AREN’T AS PROFITABLE ANYMORE
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✍️ BHP, the largest miner in Australia, is blaming Queensland's royalty scheme for its decision to suspend operations at its Saraji South coalmine and cut 750 jobs, but analysts say rising production costs and declining coal prices are the main factors.
👉 BHP is blaming Queensland's royalty scheme for its decision to suspend operations at its Saraji South coalmine and cut 750 jobs 👉 Analysts say that rising production costs and declining coal prices are the main factors driving the company's decision 👉 The company's CEO has linked the royalty scheme to its decision to review its training facility in Mackay 👉 The Queensland government's royalty scheme was introduced in 2022 to capture a greater share of wealth generated during commodity price spikes
-- #AndrewGorringe #MattPollard #JonathanBarrett #Australia #Queensland #Mackay #BowenBasin #business
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