Overview

• More than 1,000 roles have been cut in recent days by Anglo American, BHP Mitsubishi Alliance and QCoal following a rapid run of closure decisions in Queensland.
• BHP Mitsubishi Alliance says about 750 jobs will go, citing an “unsustainable” royalties regime and weaker market conditions, with an executive claiming royalties were roughly eight times the company’s profit in a recent week.
• QCoal confirmed layoffs and said one of Cook Colliery’s two underground sites in central Queensland will shut in the coming weeks.
• The Liberal National government has ruled out changing the 2022 progressive royalty system, saying it is keeping an election promise and is “not at war” with miners.
• The Queensland Resources Council offered to work on reforms as tensions rose, with the government labeling BMA “un-Australian,” unions accusing the company of spreading fear, and a resources-sector meeting set for next week that was arranged earlier.