Financial Data and Key Metrics Changes - BHP reported a return of 20.6% on capital employed with a healthy underlying margin of 53% on EBITDA [35] - The company paid out US$5.6 billion in dividends, marking a total of over US$100 billion returned to shareholders over the past ten years [36][29] - The final dividend payout ratio for the year was set at 60% of underlying attributable profit, reflecting confidence in the business's strength [29] Business Line Data and Key Metrics Changes - Record production was achieved in Western Australian iron ore, maintaining its position as the lowest cost major iron ore producer globally for the sixth consecutive year [34] - BHP's overall copper production grew by 28% over the past three years, representing the largest absolute copper growth among major miners [34] - Copper now accounts for 45% of BHP's EBITDA, more than double the percentage from five years ago [36] Market Data and Key Metrics Changes - The company contributed nearly US$47 billion to the economies it operates in, with about US$10 billion in taxes and royalties [35] - BHP is pursuing growth in copper and potash, with significant projects in South Australia, Chile, and Canada [37] Company Strategy and Development Direction - BHP aims to focus on high-quality growth that drives value, with a strong capital allocation framework guiding investment decisions [22][21] - The company is strategically positioned to meet the increasing demand for commodities essential for sustainable development, such as copper and potash [33][34] - BHP emphasizes the importance of competitive tax policies to attract global investment, highlighting the need for Australia to remain competitive in the mining sector [59][41] Management's Comments on Operating Environment and Future Outlook - Management noted that the mining sector is competitive, and BHP is committed to improving its operational performance and safety culture [24][18] - The company recognizes the growing importance of critical minerals for national security and economic development, positioning itself to support these needs [85][88] - BHP is focused on decarbonization and has set a target to reduce its carbon footprint by 30% by 2030 [110] Other Important Information - BHP's commitment to creating social value is seen as a competitive advantage, helping to build community trust and attract talent [28] - The company is actively engaging with governments to address tax and royalty issues affecting its operations, particularly in Queensland [68][66] Q&A Session Summary Question: Impact of a proposed turnover tax on BHP and the mining industry - The Chair acknowledged the importance of competitive tax policies for attracting investment and emphasized the need for balance between government returns and investment incentives [58] Question: Concerns about the coal division's performance and tax burdens - Management highlighted the unsustainable tax burden on the BMA operations, indicating that current tax settings hinder investment in the coal business [66][69] Question: Status of iron ore sales and currency usage - BHP confirmed that less than 10% of its sales are conducted in currencies other than US dollars, primarily due to sales in China [76][80] Question: Implications of the recent Australia-US discussions on resource investments - Management noted that Australia is well-positioned to support US needs for critical minerals, particularly in copper production [88] Question: Dividend payment dates and operational performance - The Chair explained that variations in dividend payment dates are linked to the timing of financial results announcements [97] Question: Environmental concerns regarding koala habitats and energy consumption - Management assured that environmental considerations are integrated into decision-making processes, including commitments to decarbonization and habitat protection [110]

Core Viewpoint - Teck Resources, Canada's largest diversified mining company, has initiated an operational review and postponed major project implementations to achieve performance milestones at its QB plant, leading to a 2.2% increase in its stock price [1] Group 1: Company Actions - The company is focusing on optimizing operational practices and enhancing performance [1] - Teck Resources is particularly addressing tailings management and production constraints [1]