Introduction In the 2023 financial year, BHP not only contributed a staggering $60 billion (AUD) to the Australian economy but also celebrated shipping its 3 billionth tonne of high-quality iron ore to China. These achievements spotlight the mining giant's significance to both the Australian economy and the global steel industry.
Key Milestones in the Partnership with China BHP’s executive team, including Chief Commercial Officer Vandita Pant and Asset President WA Iron Ore Brandon Craig, were joined by Luo Tiejun, the Vice Chairman of China Iron and Steel Association, and key customer representatives on a tour of BHP’s Pilbara and Port Hedland operations. The milestone was also celebrated with high-profile Australian officials at a gala dinner.
Decades of Trade and Collaboration BHP has built strong relations with its Chinese customers over the past 50 years. By continually providing high-quality iron ore and investing in steelmaking capabilities, both parties have mutually benefited and have become essential partners in global economic development.
Significant Economic Contributions to Australia The details of BHP's financial contributions were disclosed in its 2023 Economic Contribution Report, which highlighted:
$19.1 billion spent with Australian suppliers, including $400 million with Indigenous suppliers.
$18 billion in taxes and royalties.
$17.5 billion in dividends to Australian shareholders.
$5.3 billion in employee wages.
$86 million in community investments.
Future Commitments and Initiatives The BHP FutureFit Academy, established in 2020 with a $300 million commitment, aims to create 2,500 new traineeships and apprenticeships over five years. The program has already welcomed more than 1,100 people and graduated 500 who have joined BHP in permanent roles.
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