BHP hits out at the government as iron ore negotiations with China continue | The Business
BHP boss Mike Henry issues a warning to the federal government to lower energy prices if it wants to attract international investment. He also said every aspect of Australia’s competitiveness, from labour productivity to the time and cost of construction to royalties and taxes, must be examined against competing investment destinations. The federal government said “Australia remains one of the most stable, reliable and attractive destinations in the world for investment in resources” and it’s “we’re investing in cheaper, cleaner and more reliable power through renewables, storage and transmission.”
Having visited the White House earlier this year with bosses from Rio Tinto, Mike Henry said Australia was well positioned to support America with its critical minerals supply chains, as BHP tries to develop a US copper mine in partnership with Rio Tinto.
When asked about reports Beijing had block BHP’s iron ore shipments in the midst of a pricing stand-off, BHP chair Ross McEwan said the miner was still in “commercial negotiations” with China’s state-backed iron ore buyer CMRG. He said the company had relationships in China for decades and a “pretty good working relationship” and less than 10 per cent of iron ore sales weren’t in US dollars. Mr Henry said some were exchanged for On suggestions BHP could join forces with Rio Tinto to thwart China’s determination to reduce iron ore prices, Mr McEwan said they hadn’t had any conservations.
Finally, both Ross McEwan and Mike Henry brushed off questions about how long Mr Henry would say as chief executive of BHP.
#ABCBusiness
Subscribe: http://ab.co/1svxLVE
ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It’s news when you want it, from Australia’s most trusted news organisation.
For more from ABC NEWS, click here: https://ab.co/2kxYCZY
Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1
Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2
Like ABC NEWS on Facebook: http://facebook.com/abcnews.au
Follow ABC NEWS on Instagram: http://instagram.com/abcnews_au
Follow ABC NEWS on X (Twitter): http://twitter.com/abcnews
Note: In most cases, our captions are auto-generated.
#ABCNEWS #ABCNEWSAustralia
