The chief executive of BHP has warned that Australia’s high electricity costs could see the country lose out on big investment dollars to the likes of Canada and the US.

Mike Henry used a shareholder forum to reiterate a need for enhanced productivity in Australia.

“Critically important for the nation that we lift productivity, Australia has to stay competitive globally,” he said.

“The US is very focused on drawing in investment, including in mining . . . We see the same thing happening in Canada and other jurisdictions.

“Australia at the end of the day has to compete for global capital. In order to compete for that global capital, it has to be able to drive improved productivity through a variety of reforms.”

The boss of the Pilbara iron ore giant pointed to energy as being one “impo

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