BHP Mitsubishi Alliance (BMA) in which BHP has 50% paid AUD$3 Billion to Qld Govt in FY22 (before royalty "hiked" by QG). BMA produced 58 M tonnes of met. coal in FY22. BHP itself was responsible for paying 9% of the total Qld Govt (non-grant) revenue in FY22. For every extra $100M in "excess hiked royalty" (my term) going to QG from BHP in FY23, PBT will be reduced by $100M, Company tax reduced by $30M (and franking credits available to be distributed to shareholders reduced by that $30M), and PAT reduced by $70M.
BHP Price at posting:
$46.39 Sentiment: Buy Disclosure: Held
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