BHP CONTRIBUTES AN EXTRA $1BN TO ECONOMY
GLOBAL mining giant BHP contributed an extra $1bn in local government taxes, royalties and other payments in the past financial year, compared with the prior year.
Total Australian economic contributions totalled $34.1bn for the 12 months to June 30, up 3 per cent from $33.1bn last year.
The mid-pandemic contribution was boosted by a $1.3bn increase in taxes, royalties and other direct payments to governments of $12.4bn.
It also included $11.1bn of spending with suppliers, $6bn in dividends and interest, $4.5bn in employee wages and $100m in community investment projects, according to BHP.
BHP’S adjusted effective tax rate for the past financial year was 41.4 per cent, including royalties.
“We know many in the community are doing it tough,” BHP president Minerals Australia Edgar Basto said.
BHP chief financial officer David
Lamont said the business was “proud of the role we play” in Australia’s economy through its operations and exports. “We know that will be important to the nation’s ongoing recovery,” Mr Lamont said.
The WA government received $3.2bn, Queensland got $514m, South Australia $136m and NSW $104m.