The Sydney Morning Herald reported that according to BHP head, Marius Kloppers, mining and carbon taxes in Australia have resulted in an unprofitable coal industry.

As quoted in the market news:

Despite reassuring Australians that the taxes were not to blame for BHP’s mothballing of the $US30 billion Olympic Dam expansion, Mr Kloppers referred to both when telling British media that new investments in Australia’s coal sector would not be profitable.

http://www.smh.com.au/business/taxes-a-drag-on-coal-kloppers-warns-investors-20120823-24oyp.html