Ann: Trading Halt, page-14

QLD govt stuffed us up
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BHP Group (ASX:BHP) released a tepid quarterly activities report this morning. Shares are trading down 0.71 per cent to $39.35. The company stated: “The near tripling of top end royalties by the Queensland Government remains a serious concern and threat to investment and jobs in that state. We see strong long-term demand from global steelmakers for Queensland’s high quality metallurgical coal. In the absence of fiscal terms that are both competitive and predictable, we are unable to make significant new investments in Queensland.” Behind the scenes there still appears to be a lot of lobbying to the Queensland Government over royalties — so stay tuned for ongoing repercussions.

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