, BHP chief Mike Henry pointed to the $US13.4 billion of tax and royalties paid to Australian governments last year as proof the boom was not only benefiting BHP shareholders.
The federal government is expected to report about $120 billion in company tax when it publishes 2021-22 data next month, meaning BHP has likely provided almost 10 per cent of all company tax received by the Commonwealth. BHP’s coal mines in Queensland and NSW provided $US8.73 billion of earnings, more than 25 per cent of BHP’s total earnings and a far cry from the previous year when coal’s contribution was a $US577 million loss.
Despite China spending much of the past few days firing missiles around Taiwan, Mr Henry said he was confident the Asian superpower would be the world’s most reliable source of demand in the near future.“We expect China to emerge as a source of stability for commodity demand in the year ahead with policy support progressively taking hold,” he said in a statement.
But BHP signalled that unit costs in the iron ore division were also set to surge as high as $US19 a tonne excluding royalties, shipping and some other administration costs; the division produced iron ore at a cost of $US14.82 a tonne as recently as the year ending June 2021.
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