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2019 Global Metals, Mining and Steel Conference Presentation
BHP Group Plc
Registration number 3196209
Registered in England and Wales
Share code: BHP
ISIN: GB00BH0P3Z91
Issued by: BHP Group Plc
Date: 14 May 2019
To: London Stock Exchange
JSE Limited
For Release: Immediately
Contact: Helen Ratsey +44 (0) 20 7802 7540
BHP – 2019 Global Metals, Mining and Steel Conference Presentation
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- 2019 Global Metals, Mining and Steel Conference Presentation.
The document may also be accessed via BHP’s website - bhp.com
NEWS RELEASE
Release Time IMMEDIATE
Date 14 May 2019
Release Number 11/19
BHP CEO speaks at Bank of America Merrill Lynch Global Metals, Mining and
Steel Conference
BHP Chief Executive Officer, Andrew Mackenzie, today said BHP’s focus remains
clear: to maximise cash flow, maintain capital discipline and increase value and
returns.
Speaking at the Bank of America Merrill Lynch Global Metals, Mining and Steel
Conference in Barcelona, Mr Mackenzie, said BHP’s strategy provides the framework
to make the most of our portfolio while developing options to secure future success.
Since the beginning of 2016, BHP has strengthened its balance sheet through a
US$16 billion reduction in net debt, reinvested US$20 billion in the business and
returned more than US$25 billion to shareholders.
“We have increased volumes, reduced costs, and kept our people safer at work.
These actions lifted return on capital by around 50 per cent,” Mr Mackenzie said.
“These are strong outcomes. There is still substantial opportunity to maximise the
value of existing assets to release latent capacity and improve performance.
“We have shaped our portfolio around commodities with attractive fundamentals and
we hold exploration licences and development options in the world’s premier copper,
oil and potash basins.
“Developments such as climate change and dramatic shifts in technology present
both challenges and opportunities. To make sure that we secure the future prosperity
of our Company, we constantly test our current assets and future options against
many divergent scenarios for how the world will look well into the future.
Decarbonisation, the electrification of transport, the future of work and food security
are examples of strategic themes that we monitor.
“For example, Nickel West, which we will now retain in the portfolio, offers high-return
potential as a future growth option, linked to the expected growth in battery markets
and the relative scarcity of quality nickel sulphide supply.
“While nobody can predict what will happen with absolute precision, I am confident
BHP’s portfolio can thrive under almost all plausible outcomes in this changing
world.”
Mr Mackenzie said BHP was well placed in the short, medium and longer term with
strict financial discipline and a transparent and consistent approach to capital
allocation.
“Our institutionalised capital allocation framework transparently directs cash to its
best use, be that development opportunities, the balance sheet, or returns to
shareholders. We have a resilient portfolio, a transformation agenda and a suite of
options and ideas to create future value at the right time. We have demonstrated this
is the right formula for our shareholders.
“Regardless of how the world evolves, BHP is set up for a strong future.”
An audio-webcast of the presentation will be made available at: https://edge.media-
server.com/m6/p/d2ky883h
Further information on BHP can be found at: bhp.com
Sponsor: UBS South Africa (Pty) Limited
Media Relations Investor Relations
Email: media.relations@bhp.com Email: investor.relations@bhp.com
Australia and Asia Australia and Asia
Gabrielle Notley Tara Dines
Tel: +61 3 9609 3830 Mobile: +61 411 071 715 Tel: +61 3 9609 2222 Mobile: +61 499 249 005
United Kingdom and South Africa United Kingdom and South Africa
Neil Burrows Elisa Morniroli
Tel: +44 20 7802 7484 Mobile: +44 7786 661 683 Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
North America Americas
Judy Dane James Wear
Tel: +1 713 961 8283 Mobile: +1 713 299 5342 Tel: +1 713 993 3737 Mobile: +1 347 882 3011
BHP Group Limited ABN 49 004 028 077 BHP Group Plc Registration number 3196209
LEI WZE1WSENV6JSZFK0JC28 LEI 549300C116EOWV835768
Registered in Australia Registered in England and Wales
Registered Office: Level 18, 171 Collins Street Registered Office: Nova South, 160 Victoria Street
Melbourne Victoria 3000 Australia London SW1E 5LB United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015 Tel +44 20 7802 4000 Fax +44 20 7802 4111
Members of the BHP Group which is
headquartered in Australia
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