BHP’s Australia head, Geraldine Slattery, said on October 15 that the country must accelerate environmental approvals and lower power costs to attract mining investment and compete globally. She warned that lengthy permitting processes hinder Australia’s competitiveness against nations such as the US, which are advancing mining-friendly policies to counter China’s dominance.

Meanwhile, BHP CEO Mike Henry said the company is considering reopening old mines in Arizona considering the US administration’s strong mining policies. BHP also allocated over A$840 million for its Olympic Dam copper program in South Australia as it wants to double the output.

Australia is in the final phase of negotiations to reform its environmental laws, with new legislation expected to be introduced to parliament during the final two weeks of its session this year.