BHP Begins Review to Rank Unprofitable Australian Coal Mines.

The article focuses on BHP Group and Mitsubishi Development Pty Ltd.'s review of the financial health of their coal mines in Queensland, Australia, amid concerns about the state's royalty regime. The BHP Mitsubishi Alliance, a 50:50 joint venture, is assessing each underground and open-cut mine's costs and profitability, noting that Queensland mines were unprofitable in the six months ending December 31. Queensland's royalty system, introduced in 2022, imposes a tiered tax on coal revenue, with rates up to 40% for high prices, which BHP argues has negatively impacted its coal operations, leading to mine closures and job cuts. BHP has announced no new capital investment in Queensland coal and is expected to release its next operational report soon. [Extracted from the article]