BHP’s (ASX:BHP) next CEO wants the nation to be more competitive for business.
Brandon Craig says that he hopes the government can offer more mining incentives to make Australia a more attractive place to produce minerals.
The South African-born current BHP president of the Americas advocates for business-friendlier policies that rival other mining destinations.
“It is very clear when you engage across countries in different parts of the world that a lot of these countries are putting in place very, very attractive incentive regimes to attract investment and, ultimately, Australia has to compete with that,” Craig tells the Australian Associated Press newswire agency.
“Because ultimately that is what is going to be best for the country, best for the nation, and I want to see Australia succeed.”
The remarks come after the Queensland Government introduced tiered royalty rates of up to 40% once the average coal price per tonne exceeded $300 back in the year 2022.
This prompted the Queensland Resources Council to criticise the Sunshine State’s mineral levies as the “world’s highest” coal royalty tax rates.
In September 2025 the Japanese BHP Mitsubishi Alliance (BMA) joint venture decided to shut down its Saraji South Coal Mine, 25km southeast of Dysart in Queensland’s Isaac region. Placing the operation into care and maintenance is expected to directly affect 72 mine workers. A further 678 staff members will be retrenched across other BMA operations according to the Mining and Energy Union.
BMA Asset President Adam Lancey describes the job losses as necessary due to the State Government’s “unsustainable coal royalties and market conditions”, according to the Australian Broadcasting Corporation.
However, union Queensland President Mitch Hughes felt “very disappointed” due to the adverse impact on employees and community members.
“Even with higher royalties BHP profited immensely from the coal price spike of 2022-2023, which saw coking coal spot prices peak at over $900 a tonne,” Hughes says.
“BHP is sulking that they had to share some of these windfall profits with Queenslanders.”
Craig plans to lead his “hard-working” team in building a “great company” that generates “long-term value” for shareholders.
Write to Richard Szabo at Mining.com.au
Images: BHP
