The world’s biggest mining company has called for the deregulation of Australia’s transport infrastructure.
Despite the recent mining boom, Australia has been incapable of maximising revenue due to the restricted infrastructure system, BHP Billiton chief executive Marius Kloppers told the ABC.
“At the end of the day it doesn’t matter how much material the mining industry digs up. If we can’t deliver it to our customers, it doesn’t count,” he said.
As Queensland’s coal royalty rates are set to increase by ten per cent on coal that is traded for over $100 per tonne, Mr Kloppers said it would cost the mining industry around $600 million in the next financial year.
“The more stable the tax regime, the higher the investment rate. [It is the] same story on infrastructure: the more certainty, the higher the investment rate,” he said.