Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
BHP, in partnership with Mitsubishi Development, will suspend operations at the Saraji South coking coal mine in Queensland from November 2025, impacting 750 workers. The mine, part of the BHP Mitsubishi Alliance (BMA), will be placed into care and maintenance due to weak returns caused by falling coal prices and higher state government royalties.
BMA Asset President Adam Lancey said both companies regretted the decision but cited “unsustainable coal royalties” and market pressures as the main reasons. While demand for high-quality coking coal remains strong in the medium term, BHP stated that continuing operations in lower-margin areas of the Saraji mine was no longer viable.
Queensland’s coal royalty system, revised in July 2022, increased charges significantly. Royalties now stand at 20% for coal priced above A$175 ($117) per ton, 30% above A$225, and 40% above A$300. This replaced the previous top rate of 15% on coal priced over A$150. The higher taxes have squeezed profits as coal prices normalize after peaking above $600 a ton in 2022 following Russia’s invasion of Ukraine. Coking coal currently trades at around $188.80 a ton.
The Saraji complex produced 8.2 million metric tons of coking coal in the year ending June 2025. Despite the suspension, BMA remains central Queensland’s largest private-sector employer, contributing more than A$6.4 billion to suppliers in the past fiscal year.
The move underscores the pressure Australia’s coal industry faces from volatile commodity markets and rising government levies. BHP emphasized that the decision, while difficult, was necessary to ensure long-term sustainability of its operations in the region.
