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Provisions (Tables)
 12 Months Ended
Jun. 30, 2024
Provision for dividends and other liabilities [member]  
Statement [Line Items]  
Summary of Provisions
The disclosure below excludes closure and rehabilitation provisions (refer to note 15 ‘Closure and rehabilitation provisions’), employee benefits, restructuring and post-retirement employee benefits provisions (refer to note 27 ‘Employee benefits, restructuring and post-retirement employee benefits provisions’) and provision related to the Samarco dam failure (refer to note 4 ‘Significant events – Samarco dam failure’).
 
    
2024
     2023  
    
US$M
     US$M  
At the beginning of the financial year
   
 
769
 
     674  
Acquisition of subsidiaries and operations
1
   
 
–
 
     61  
Dividends determined
   
 
7,712
 
     13,420  
Charge/(credit) for the year:
     
Underlying
   
 
180
 
     156  
Discounting
   
 
2
 
     2  
Exchange variations
   
 
(42
) 
     (161 ) 
Released during the year
   
 
(120
) 
     (62 ) 
Utilisation
   
 
(92
) 
     (35 ) 
Dividends paid
   
 
(7,675
) 
     (13,268 ) 
Transfers and other movements
   
 
(24
) 
     (18 ) 
  
 
 
    
 
 
  
At the end of the financial year
   
 
710
 
     769  
  
 
 
    
 
 
  
Comprising:
     
Current
   
 
220
 
     384  
Non-current
   
 
490
 
     385  
  
 
 
    
 
 
  
 
1
 
Relates to the acquisition of OZL on 2 May 2023. Refer to note 29 ‘Business combinations’ for more information.
Samarco dam failure [member]  
Statement [Line Items]  
Summary of Financial Impacts of Samarco Dam Failure
The financial impacts of the Samarco dam failure on the Group’s income statement, balance sheet and cash flow statement for the year ended 30 June 2024 are shown in the tables below and have been treated as an exceptional item.
 
Financial impacts of Samarco dam failure
   
2024
     2023     2022  
    
US$M
     US$M     US$M  
Income statement
       
Expenses excluding net finance costs:
       
Costs incurred directly by BHP Brasil and other BHP entities in relation to the Samarco dam failure
1
   
 
(139
) 
     (103 )      (66 ) 
(Loss)/profit from equity accounted investments, related impairments and expenses:
       
Samarco dam failure provision
2
   
 
(2,833
) 
     (256 )      (595 ) 
Fair value change on forward exchange derivatives
3
   
 
(199
) 
     471       (81 ) 
  
 
 
    
 
 
    
 
 
  
(Loss)/profit from operations
   
 
(3,171
) 
     112       (742 ) 
Net finance costs
4
   
 
(506
) 
     (452 )      (290 ) 
  
 
 
    
 
 
    
 
 
  
Loss before taxation
   
 
(3,677
) 
     (340 )      (1,032 ) 
Income tax (expense)/benefit
5
   
 
(85
) 
     17       (31 ) 
  
 
 
    
 
 
    
 
 
  
Loss after taxation
   
 
(3,762
) 
     (323 )      (1,063 ) 
  
 
 
    
 
 
    
 
 
  
Balance sheet movement
       
Other financial assets
6
   
 
(280
) 
     337       (160 ) 
Trade and other payables
   
 
(4
)  
     (6 )      (1 ) 
Tax liabilities
   
 
(85
) 
     17       (31 ) 
Provisions
   
 
(2,824
) 
     (260 )      (629 ) 
  
 
 
    
 
 
    
 
 
  
Net (increase)/decrease in liabilities
   
 
(3,193
) 
     88       (821 ) 
  
 
 
    
 
 
    
 
 
  

           
2024
           2023            2022  
           
US$M
           US$M            US$M  
Cash flow statement
               
Loss before taxation
   
 
  
 
   
 
(3,677
) 
       (340 )         (1,032 ) 
Adjustments for:
               
Samarco dam failure provision
2
   
 
2,833
 
        256         595     
Fair value change on forward exchange derivatives
3
   
 
199
 
        (471 )        81     
Proceeds of cash management related instruments
   
 
218
 
        134         79     
Net finance costs
4
   
 
506
 
        452      
      290       
 
Changes in assets and liabilities:
          
    
Trade and other payables
   
 
4
 
        6      
      1       
 
     
 
 
      
 
 
       
 
 
  
Net operating cash flows
      
 
83
 
       37          14  
     
 
 
      
 
 
       
 
 
  
Net investment and funding of equity accounted investments
7
      
 
(640
) 
       (448 )         (256 ) 
     
 
 
      
 
 
       
 
 
  
Net investing cash flows
      
 
(640
) 
       (448 )         (256 ) 
     
 
 
      
 
 
       
 
 
  
Net decrease in cash and cash equivalents
      
 
(557
) 
       (411 )         (242 ) 
     
 
 
      
 
 
       
 
 
  
 
1
 
Includes legal and advisor costs incurred.
 
2
 
US$3,700 million (2023: US$(33) million; 2022: US$691 million) change in estimate and US$(867) million (2023: US$289 million; 2022: US$(96) million) exchange translation.
 
3
 
The Group enters into forward exchange contracts to limit the Brazilian reais exposure on the dam failure provision. While not applying hedge accounting, the fair value changes in the forward exchange instruments are recorded within (Loss)/profit from equity accounted investments, related impairments and expenses in the Income Statement.
 
4
 
Amortisation of discounting of provision.
 
5
 
Includes tax on forward exchange derivatives and other taxes incurred during the period.
 
6
 
Includes forward exchange contracts described in item 3 above, and Senior notes issued by Samarco as part of its Judicial Reorganisation.
 
7
 
Includes US$(515) million (2023: US$(448) million; 2022: US$(256) million) utilisation of the Samarco dam failure provision and US$(125) million provided to Samarco following approval of the
Judicial Reorganisation
(2023:
US$ 
nil; 2022: US$
 
nil).
Summary of Provisions
Provision related to the Samarco dam failure
 
          
2024
            2023  
          
US$M
            US$M  
At the beginning of the financial year
   
 
   
 
  
 
3,681
 
        3,421  
Movement in provision
     
 
2,824
 
        260  
Comprising:
          
Utilised
   
 
(515
)  
        (448 )   
Adjustments charged to the income statement:
          
Change in cost estimate
   
 
3,700
 
        (33 )   
Amortisation of discounting impacting net finance costs
   
 
506
 
        452    
Exchange translation
   
 
(867
) 
        289    
    
 
 
       
 
 
  
At the end of the financial year
     
 
6,505
 
        3,681  
    
 
 
       
 
 
  
Comprising:
          
Current
     
 
1,500
 
        1,876  
Non-current
     
 
5,005
 
        1,805  
    
 
 
       
 
 
  
At the end of the financial year
     
 
6,505
 
        3,681