BHP contributes $60 billion to Australian economy in FY23

(Posted on 19/09/23)

BHP contributed $60 billion (AUD) in economic value to the Australian economy in the 2023 financial year, through wages, dividends, supplier payments, taxes, royalties and community investments.

BHP disclosed the figures in its 2023 Economic Contribution Report, which highlighted:

$19.1 billion spent with Australian suppliers. This includes $400 million spent with Indigenous suppliers as part of a commitment to invest $1.5 billion with Indigenous businesses by 30 June 2027.

$18 billion in taxes, royalties and other payments to Australian governments – bringing BHP’s total tax and royalty payments in Australia to over $100 billion in the past 10 years.

$17.5 billion in dividends to Australian shareholders. More than 17 million Australians benefit from BHP dividends either directly as shareholders or indirectly through superannuation.

$5.3 billion in employee wages.

The BHP FutureFit Academy, launched in 2020 with a $300 million commitment to create 2,500 new traineeships and apprenticeships over five years, has to date welcomed more than 1100 people and turned out 500 graduates who have joined BHP in permanent jobs.

$86 million in community investments.

BHP remains one of the largest taxpayers in Australia and expects to fund approximately 8% of total Australian company tax for the 2023 financial year – at an adjusted effective tax rate of 32.1% rising to 44.9% when royalties were included.

BHP operated projects contributed 10% and 11% of all revenue (excluding grants) in Queensland and Western Australia, respectively.

BHP President Australia Geraldine Slattery said: “Australia’s regional and remote communities are so important to BHP, and operating in a way that benefits the areas where we operate is at the heart of our approach.”

“BHP is a major contributor to Australia’s national economy and regional communities through jobs, training, local and Indigenous suppliers, taxes, royalties and social investments. We will continue to work in partnership with our many stakeholders to support Australia’s economic prosperity as we deliver the minerals needed for global economic development and decarbonisation.”

BHP Chief Financial Officer David Lamont said: “BHP remains one of the largest taxpayers in Australia, delivering over $100 million in taxes and royalties to federal and state governments over the past 10 years.

“BHP’s dividends benefit roughly 17 million Australians who hold shares in the company, either as direct investors or through their superannuation. BHP was the largest dividend payer on the ASX100 over the past two financial years, paying around one fifth of all dividends on that index.”

Latest News

Dynamic Mining shipping arm and GeoServe’s one-year milestone

A strategic collaboration between Icon Gulf Trading DMCC (part of the Dynamic Group) and GeoServe Energy... Read more

SSAB and Metal Solutions start partnership in fossil-free steel

SSAB and Metal Solutions have entered a long-term partnership for the supply of decarbonized steel with... Read more

NGFA thanks lawmakers for including industry priorities in ‘One Big Beautiful Bill’

The National Grain and Feed Association (NGFA) in the USA has applauded Congress for including a slate... Read more

Fertilizers Europe: Commission announcement on CBAM falls short

Fertilizers Europe’s have released their reaction to the European Commission announcement on the... Read more

Bunge completes sale of its North America corn milling business

Bunge Global SA has confirmed that it has completed the previously announced sale of its North America... Read more

SSAB secures additional EUR 430 million green financing for Luleå

Following the successful debt raising at the end of April 2025, SSAB has secured an additional EUR 430... Read more

Soaring demand opens up investment opportunities across West Africa

Despite China’s dominant position in securing commodities across Africa, there are still many... Read more

Rio Tinto and Hancock Prospecting invest $1.6 billion in Pilbara iron ore project

Rio Tinto and Hancock Prospecting will invest $1.61 billion (Rio Tinto share $0.8 billion) to develop... Read more

SSAB postpones commissioning of new steel mill in Luleå by 12 months

SSAB has commenced preparatory work to build a new, state-of-the-art steel mill in Luleå, Sweden... Read more

Anglo American streamlines leadership team to reflect portfolio progress

Anglo American plc has streamlined its executive leadership team to reflect substantial progress with... Read more