BHP Group (BHP) AGM 2026 summary

Opening remarks and agenda

• AGM opened as a forum for shareholder questions on FY26 performance, opportunities and plans; reports for the year ended 30 June 2026 were presented for consideration without a vote.

• Safety was identified as the top priority following fatalities at Peak Downs and Escondida; the stated goal is to eliminate fatalities and serious injuries.

Financial performance review

• FY26 record production at Western Australia Iron Ore; it remained the lowest-cost major iron ore producer for the seventh year, while Olympic Dam posted its highest production in over 20 years.

• Escondida achieved record material moved and concentrator throughput; copper contributed more than half of earnings for the first time, and operations became the world’s largest copper producer.

• Underlying EBITDA was $33 billion and underlying attributable profit rose 30% to $13 billion; every major asset met unit-cost guidance despite inflation, higher diesel prices and supply disruption.

• Economic contribution exceeded US$50 billion, including more than US$12 billion in taxes, royalties and other government payments; Indigenous supplier spend exceeded US$1 billion.

Board and executive committee updates

• Mike Henry retired as CEO after more than six years; Brandon Craig took over on 1 July 2026 following a succession process and a smooth transition.

• Mark Vassella joined the board on 1 June 2026 and sought election; he cited global steel-industry experience, including his former role as BlueScope Steel CEO.

• Vassella said his board work would include the People and Remuneration Committee and Sustainability Committee, with a focus on long-term value, safe operations and decarbonization challenges.