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BHP Warns Proposed Same Job, Same Pay Policy Could Jeopardise $3.2 Billion Investment

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BHP,Mining,Investment

BHP, the world's largest mining group, has expressed concerns that the government's proposed same job, same pay policy could impact its planned $3.2 billion investment in its local copper business. BHP's CEO, Mike Henry, stated that the bill would not only harm the company but also damage the Australian economy. The potential threat to its investment plans represents a significant escalation in BHP's campaign against the proposed laws.

The world’s largest mining group, BHP, says the government’s proposed same job, same pay policy could jeopardise $US2 billion worth of investment it has planned for its local copper business.

“The bill could reduce the value of any potential growth plans for a copper province of BHP assets here in South Australia by up to $US2 billion,” he said. The potential threat to its investment plans in Australia represents a step-up in the $225 billion miner’s campaign against the proposed laws. BHP has previously said the legislative changes would cost the organisation up toThe proposed changes would mean labour-hire workers are paid at least as much as directly employed workers doing the same job.

Gina Rinehart’s privately owned Hancock Prospecting said Australia needed to do more to reduce the regulatory burden, while announcing a $5 billion net profit for the year ending June 30, 2023.

 

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