.bhp has flagged plans to divest two coal mines in Queensland, saying the projects would struggle to compete for capital QRCouncil royalty mining inflation investment Australia
PERTH – Diversified miner BHP on Tuesday flagged plans to divest of the Daunia and Blackwater coal mines, in Queensland, under the BHP Mitsubishi Alliance .
The miner on Tuesday told shareholders that as a result of the Queensland government’s decision to raise coal royalties to the highest maximum rate in the world, the fiscal environment is no longer competitive or predictable and as such BMA is not making significant new investments in Queensland and is not providing annual sustaining capital expenditure guidance at this time.
“BHP indicated the two mines would struggle to compete for capital under its current global investment plans, which is why the Queensland government should be doing whatever it can to attract investors, not scare them off with the world’s highest royalty tax rate,” Macfarlane said. “The state government needs to urgently reconsider its royalty tax increase before other companies join BHP in divesting their Queensland assets, threatening thousands of future jobs and jeopardising the state’s economic prosperity,” Macfarlane said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
British Medical Association calls government reckless over pay talksBMA members have been balloted over a junior doctors strike, with the result expected on Monday,
Read more »
BHP upbeat on demand outlook as China reopens, first-half profit missesGlobal miner BHP Group was positive about demand outlook through to fiscal 2024 as top metals consumer China reopens and shifts policy towards its debt-laden property sector, the company said on Tuesday after its 2023 first-half profit missed estimates.
Read more »
BHP reports 32% drop in first-half profit on low iron ore pricesMiners have wrestled with surging costs and a tight labour market amid sharply lower iron ore prices over the latter half of 2022, as China's strict zero-covid-19 policy curtailed economic activity. Mining
Read more »
BHP eyes demand green shoots in China as profit slumpsGlobal miner BHP Group reported a steeper-than-expected 32% fall in first-half profit owing to a drop in iron ore prices, sending its shares down, although it flagged a brightening outlook in China, its biggest customer.
Read more »
Breakingviews - BHP investors aren’t seeing the wood for the treesMike Henry is becoming a transformation expert. Since taking over as boss of Australian miner BHP at the start of 2020, he has sold its most polluting units, including the oil and gas division and some coal assets, and is buying more energy-transition metals while being careful not to overpay. Meanwhile, he’s digging up good results in volatile markets. Yet shareholders don’t yet seem to appreciate the big shift underway.
Read more »
Used Aston Martin DB7 for saleChassis 700082Based on the DB7 GT, the most sporting iteration of the DB7, the Zagato variant benefitted from the many modifications made to the GT over the standard DB7. Improved power train, brakes, exhaust system, a stiffened chassis and a revised V12 engine tweaked to deliver 435 bhp greatly improved driving dynamics and performance.The elegant Italian styling of this 2 owner DB7 Zagato, finished in Ferrari Nero Daytona Black features the distinct large grille, the signature Zagato ‘double-bubble’ roof and a completely unique rear end that had single round taillights and a drop-down boot lid. Zagato styled 5-spoke alloy wheels and a unique Charcoal Aniline leather interior completed the striking looks of this very special car.Testament to the partnership between Aston Martin and Zagato, each chassis was manufactured in England before being shipped to Italy where Zagato fitted each body panel.Now available at Aston Martin Works is the opportunity to purchase DB7 Zagato number 82 of 99 along with its detailed and vibrant history. Aston Martin Works the historical home of Aston Martin since 1954
Read more »