BHP’s record $US23.6 billion profit comes at the expense of investment in Australian jobs and communities and demonstrates the urgent need for a resource rent tax, the CFMEU said today.

“BHP’s profit is up a whopping 86%, largely off the back of record prices for Australian resources,” said CFMEU National President Tony Maher.

“There are healthy profits – and then there are super profits.

“When downstream industries like steel manufacturing are being crippled by the resources boom and get no support from super profitable mining companies who fail to use local steel in their major construction projects, today’s announcement is no cause for celebration.

“Mining giants like BHP love to spin their contribution to the national economy, but they’ve demonstrated they have to be dragged kicking and screaming to pay their fair share.

“We have mining communities without decent local roads, affordable housing or facilities for families.

“We urgently need a resource rent tax that ensures all Australians benefit from this mining boom, not just the shareholders of mining companies.”

Mining companies profiting from Australian resources must also maximise the flow-on benefits of the resource boom by giving Australian businesses the right to tender for construction contracts, said Mr Maher. 

See Tony Maher's piece on The Punch.