After the opposition Labor party suffered heavy losses in coal-mining regions in Saturday’s Australian federal elections, the Carmichael project looks to be getting closer than ever to approval.
BHP Group CFO Peter Beavan told a strategy briefing on Wednesday that the world's biggest mining company has "no appetite" to grow its thermal coal assets.
Investors in energy seem now to be sitting on the sidelines, waiting to see whether the cost deflation in renewables will overcome issues around grid integration, or whether some unforeseen policy backlash can drive a second coming of fossil fuels.
The world's largest miner has revised up expectations for electric vehicle sales and market penetration, but warns the electrification of the transport sector will proceed only as fast as the development of charging infrastructure does.