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BHP Group Limited Interim / Quarterly Report 2022

Oct 18, 2021

14787_rns_2021-10-18_40f33a3a-fd17-4dcc-a65e-1c1efd680cfb.pdf

Interim / Quarterly Report

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Release Time IMMEDIATE Date 19 October 2021 Release Number 23/21

BHP OPERATIONAL REVIEW FOR THE QUARTER ENDED 30 SEPTEMBER 2021

Note: All guidance is subject to further potential impacts from COVID-19 during the 2022 financial year.

  • We safely delivered reliable operational performance during the quarter as we executed a series of planned major maintenance activities across our assets.

  • All production and unit cost guidance[(1)] remains unchanged for the 2022 financial year.

  • Our major projects under development are tracking to plan, with two new projects, the Jansen Stage 1 potash project and the Shenzi North development project in the US Gulf of Mexico, approved during the September 2021 quarter. The Jansen shaft project is 96% complete, and the Trion oil project in Mexico moved into the Front End Engineering Design (FEED) phase and is expected to progress to a Final Investment Decision from mid-calendar year 2022.

  • The announced agreement to pursue a proposed merger of our Petroleum business with Woodside to create a global top 10 independent energy company is progressing to plan, with full form transaction documents expected in November 2021.

  • We announced our intention to unify our corporate structure under BHP’s existing Australian parent company subject to final Board and other approvals. Unification would create a simplified structure and enhance strategic flexibility. If approved, unification is expected to occur in March 2022 quarter.

  • In Petroleum, the Calypso appraisal well Bongos-3 in Trinidad and Tobago spud on 27 July 2021 and encountered hydrocarbons. A side track is currently being drilled to complete the appraisal.

  • In Copper exploration, BHP exercised its option to form an exploration joint venture with Red Tiger Resources for the Intercept Hill copper project, which borders BHP’s Oak Dam site in South Australia.

Production Sep Q21 Sep Q21 Sep Q21 vs Jun Q21 commentary
(vs Sep Q20) (vs Jun Q21)
Petroleum (MMboe) 27.5 27.5 Higher volumes due to increased production from Ruby and higher seasonal gas
3% 2% demand at Bass Strait, partially offset by lower production at North West Shelf and
natural field decline.
Copper (kt) 376.5 376.5 Lower volumes at Olympic Dam due to the commencement of the planned smelter
(9%) (7%) maintenance campaign, albeit approximately one month delayed due to COVID-19
related border restrictions.
Iron ore (Mt) 63.3 63.3 Lower volumes reflects planned major maintenance including car dumper one and the
(4%) (3%) impacts of temporary rail labour shortages due to COVID-19 related border
restrictions, which have improved during September 2021.
Metallurgical coal (Mt)
8.9		 8.9 Lower volumes due to planned maintenance at BMA, a planned longwall move at
(9%) (25%) Broadmeadow and mining in higher strip ratio areas at BMC. This was partially offset
by record stripping at BMC reflecting a step up in underlying truck productivity at
South Walker Creek.
Energy coal (Mt) 4.2 4.2 Lower volumes at NSWEC due to mining in higher strip ratio areas, partially offset
17% (6%) by increased stripping enabled by continued improvement in underlying truck
productivity.
Nickel (kt) 17.8 17.8 Lower volumes due to planned maintenance across the supply chain.
(20%) (21%)

Group copper equivalent production decreased by 5% in the September 2021 quarter following lower minerals volumes largely a result of planned maintenance.

BHP Operational Review for the quarter ended 30 September 2021

1

Summary

BHP Chief Executive Officer, Mike Henry:

“BHP’s operations delivered reliably during the first quarter and we completed planned major maintenance activities across a number of our assets. We continue to skilfully navigate the ongoing challenges of COVID-19.

We progressed the ramp-up of production of high quality iron ore at South Flank and copper from the Spence Growth Option, and we delivered first nickel sulphate from our new plant at Kwinana.

We sanctioned the Jansen Stage 1 potash project in Canada, and made a series of targeted investments in copper and nickel exploration in Australia and Canada. These are aligned with our efforts to increase our exposure to future facing commodities and to position the portfolio to continue to deliver attractive returns and long-term value to shareholders.”

Operational performance

Production and guidance are summarised below.

Note: All guidance is subject to further potential impacts from COVID-19 during the 2022 financial year.

Sep Q21 Sep Q21 Current
Sep vs vs FY22
Production Q21 Sep Q20 Jun Q21 guidance
Petroleum (MMboe) 27.5 3% 2% 99 – 106 Unchanged
Copper (kt) 376.5 (9%) (7%) 1,590 – 1,760
Escondida (kt) 243.7 (14%) (1%) 1,000 – 1,080 Unchanged
Pampa Norte (kt) 67.5 59% (3%) 330 – 370 Unchanged
Olympic Dam (kt) 29.5 (43%) (42%) 140 – 170 Unchanged
Antamina (kt) 35.8 3% (1%) 120 – 140 Unchanged
Iron ore (Mt) 63.3 (4%) (3%) 249 – 259
WAIO (Mt) 62.3 (6%) (3%) 246 – 255 Unchanged
WAIO (100% basis) (Mt) 70.6 (5%) (3%) 278 – 288 Unchanged
Samarco (Mt) 1.0 100% 2% 3 – 4 Unchanged
Metallurgical coal (Mt) 8.9 (9%) (25%) 39 – 44
Queensland Coal (100% basis) (Mt) 15.6 (9%) (26%) 70 – 78 Unchanged
Energy coal (Mt)(i) 4.2 17% (6%) 13 – 15
NSWEC (Mt) 4.2 17% (6%) 13 – 15 Unchanged
Nickel (kt) 17.8 (20%) (21%) 85 – 95 Unchanged
Assets held for sale
Energy coal – Cerrejón (Mt)(i) 2.1 98% 15% n/a

(i) Cerrejón production guidance has ceased reflecting the announced divestment of our interest in June 2021 and volumes will be reported separately from 1 July 2021 until transaction completion.

Major development projects

During the September 2021 quarter, the BHP Board approved an investment of US$5.7 billion (C$7.5 billion) for the Jansen Stage 1 project in Canada and US$544 million for the Shenzi North development project in the US Gulf of Mexico.

At the end of the September 2021 quarter, BHP had four major projects under development, in petroleum (Mad Dog Phase 2 and Shenzi North development) and potash (Jansen mine shafts and Jansen Stage 1), with a combined budget of US$11.2 billion over the life of the projects.

BHP Operational Review for the quarter ended 30 September 2021

2

Corporate update

In August 2021, we announced a merger proposal to combine our Petroleum business with Woodside Petroleum Ltd by an all-stock merger, subject to confirmatory due diligence, negotiation and execution of full form transaction documents and satisfaction of conditions precedent including required approvals. The proposed merger would create a global top 10 independent energy company by production and be the largest energy company on the Australian Stock Exchange. Execution of a Share Sale Agreement and Integration and Transition Services Agreement is expected to take place in November 2021. Following receipt of all approvals, the merger is expected to be completed in the second quarter of the 2022 calendar year with an effective date of 1 July 2021. An integration team with representatives from both companies has been established and is progressing integration planning activities, which includes developing a path to unlock estimated synergies of more than US$400 million per annum.

In August 2021, we also announced that we intend to unify our dual listed company (DLC) structure, subject to final Board approval, third party consents, regulatory, shareholder and court approvals. Unification would result in a corporate structure that is simpler, more efficient and improves portfolio flexibility to maximise value for shareholders over the long-term, including facilitating a simpler separation of Petroleum. Constructive engagement with regulators and third parties continues and the process remains on track. If all approvals are received, unification is expected to occur in the March 2022 quarter.

On 14 September 2021, BHP released its Climate Transition Action Plan 2021 (CTAP). The CTAP builds on the Climate Change Report we released in September last year and has been designed with reference to the structure of the Climate Action 100+ Net Zero Company Benchmark, which was established in late 2020. It provides an update on BHP’s performance in a format that responds to evolving investor assessment and disclosure frameworks, announces our enhanced position on Scope 3, and continues BHP’s demonstrated and long-term commitment to engagement and transparency on our approach to climate change.

In October 2021, we entered into renewable energy supply agreements that will see Olympic Dam reduce its operational emissions to zero for 50 per cent of its electricity consumption by 2025, based on current forecast demand. Iberdrola Renewable Energy Park near Port Augusta in South Australia will supply the renewable energy under the agreement and, once in operation in July 2022, will be Australia’s largest solar-wind hybrid plant. This announcement follows BHP’s entry into renewable energy agreements for BHP’s operations in Western Australia, Queensland and Chile.

In October 2021, we also signed a Memorandum of Understanding (MoU) with South Korea’s POSCO, one of the world’s largest steelmakers to jointly explore greenhouse gas emissions reduction technologies in the integrated steelmaking value chain.

Our Support Agreement with Noront Resources (Noront) to make an all-cash takeover offer for Noront remains in place. Noront owns an extensive land package that includes the Eagle’s Nest nickel and copper deposit in the James Bay Lowlands, Ontario, in an emerging metals area known as the Ring of Fire.

Samarco’s Judicial Reorganisation process is continuing in the Commercial Courts of Belo Horizonte, State of Minas Gerais. The Judicial Reorganisation is a means for Samarco to restructure its financial debts in order to establish a sustainable independent financial position as Samarco continues to rebuild its operations safely and meet its Renova Foundation obligations.

In addition, negotiations are ongoing with State and Federal Prosecutors and certain other Brazilian public authorities in relation to the review of the Framework Agreement. The Framework Agreement was entered into between Samarco, Vale and BHP Brasil and the relevant Brazilian authorities in March 2016 and established Foundation

Renova to develop and implement environmental and socio-economic programs to remediate and provide compensation for damage caused by the Samarco dam failure. The suspended R$155 billion (approximately US$30 billion) Federal Public Prosecution Office claim is under discussion as part of these negotiations, which were provided for in the Governance Agreement signed between the parties in 2018.

BHP Operational Review for the quarter ended 30 September 2021

3

Petroleum

Production

Production
Sep Q21 Sep Q21
vs vs
Sep Q21 Sep Q20 Jun Q21
Crude oil, condensate and natural gas liquids (MMboe) 12.8 11% 4%
Natural gas (bcf) 88.4 (3%) 0%
Total petroleum production (MMboe) 27.5 3% 2%

Petroleum – Total petroleum production increased by three per cent to 28 MMboe. Guidance for the 2022 financial year remains unchanged at between 99 and 106 MMboe.

Crude oil, condensate and natural gas liquids production increased by eleven per cent to 13 MMboe, reflecting lower impact from weather events in the Gulf of Mexico, increased volumes from Ruby following first production in May 2021 and the additional 28 percent working interest acquired in Shenzi in November 2020, partially offset by natural field decline across the portfolio.

Natural gas production decreased by three per cent to 88 bcf, reflecting decreased production at North West Shelf and natural field decline across the portfolio, partially offset by increased volumes from Ruby and higher seasonal demand for gas at Bass Strait.

Projects

Projects
Project and Capital Initial Capacity Progress
ownership expenditure production
US$M target date
Mad Dog Phase 2 2,154 Mid-CY22 New floating production facility with the On schedule and budget.
(US Gulf of Mexico) capacity to produce up to 140,000 gross The overall project is 95% complete.
23.9% (non-operator) barrels of oil equivalent per day.
Shenzi North 392 CY24 A two-well subsea tie-in to the Shenzi Approved in August 2021.
development platform, with the capacity to produce up to
(US Gulf of Mexico) 30,000 gross barrels of oil equivalent per
72% (operator) day.

On 5 August 2021, we announced an investment of US$544 million for Shenzi North development in the US Gulf of Mexico. The capital expenditure represents a 100 per cent share interest. BHP is the operator and holds a 72 per cent share in Shenzi North. Repsol holds the remaining 28 per cent working interest. First production is targeted for the 2024 calendar year.

We also announced the approval of US$258 million in capital expenditure to move the Trion oil project in Mexico into the Front End Engineering Design (FEED) phase. The focus of these studies will be on completion of the engineering, commercial arrangements and execution planning required to progress to a Final Investment Decision (FID) from mid-calendar year 2022.

In the September 2021 quarter, onshore construction and commissioning of the Mad Dog Phase 2 project’s semisubmersible floating production platform, Argos, was completed and it is in the process of being towed to the final location for offshore execution. First production from Mad Dog Phase 2 is expected in the middle of the 2022 calendar year.

In October 2021, one of the two Shenzi infill wells was brought online and early flowback results looks promising. Both Shenzi infill wells are expected to be online in the 2022 financial year.

Engineering work continues to progress at Scarborough. BHP and Woodside (the operator) have developed a plan towards Scarborough FID by the end of the 2021 calendar year prior to the proposed completion date for the merger. As part of this plan, BHP and Woodside have agreed an option for BHP to divest its 26.5 per cent interest in the Scarborough Joint Venture (JV) to Woodside and 50 per cent interest in the Thebe and Jupiter JVs to Woodside if the Scarborough JV takes a FID by 15 December 2021 and the merger does not proceed.

BHP Operational Review for the quarter ended 30 September 2021

4

Petroleum exploration

Exploration and appraisal wells drilled during the September 2021 quarter are summarised below.

Well Location Target Formation age BHP equity Spud date Water Total well Status
depth depth
Bongos-3 Trinidad & Tobago Lowest Late Miocene 70% (BHP 27 July 2021 2,114 m 5,360 m Hydrocarbons
Block TTDAA 14 hydrocarbons Operator) encountered
Bongos-3X
Trinidad & Tobago		 Gas Late Miocene 70% (BHP 27 July 2021 2,114 m 4,197 m(i) Drilling ahead(i)
Block TTDAA 14 Operator)
Bongos-4 Trinidad & Tobago Gas Late Miocene 70% (BHP 6 August 2021 2,177 m 3,368 m Suspended(ii)
Block TTDAA 14 Operator)

(i) Well depth and status as at 30 September 2021.

(ii) Bongos-4 will resume at completion of Bongos-3X.

In Trinidad and Tobago, the Calypso appraisal program is currently underway. The Bongos-3 well was spud on 27 July 2021 and the formation evaluation program was completed on 18 September 2021. The well encountered hydrocarbons and a side track (Bongos-3X) is currently being drilled for further appraisal. The Bongos-4 well was spud on 6 August 2021 and is currently suspended, with operations due to recommence following the completion of Bongos-3X operations.

In the central Gulf of Mexico, the Wasabi exploration well (GC124-001) was spud on 7 October 2021.

In Barbados, the government has approved our proposed seismic program and we plan to acquire a 3D seismic survey over a portion of the Bimshire and Carlisle Bay blocks. The survey is expected to commence in the December 2021 quarter.

Petroleum exploration expenditure for the September 2021 quarter was US$87 million, of which US$35 million was expensed. An approximate US$540 million exploration and appraisal program is being executed for the 2022 financial year.

BHP Operational Review for the quarter ended 30 September 2021

5

Copper

Production

Production
Sep Q21 Sep Q21
vs vs
Sep Q21 Sep Q20 Jun Q21
Copper (kt) 376.5 (9%) (7%)
Zinc (t) 33,289 (3%) (6%)
Uranium (t) 531 (39%) (14%)

Copper – Total copper production decreased by nine per cent to 377 kt. Guidance for the 2022 financial year remains unchanged at between 1,590 and 1,760 kt, with production weighted to the second half of the financial year.

In the September 2021 quarter, the operating environment for our Chilean assets improved due to high COVID-19 vaccination rates. However, some uncertainty related to COVID-19 impacts remains as the pandemic evolves.

Escondida copper production decreased by 14 per cent to 244 kt due to forecast concentrator feed grade decline. Guidance for the 2022 financial year remains unchanged at between 1,000 and 1,080kt. Decline in concentrator feed grade is expected to be approximately two per cent for the year. Medium term guidance of an annual average of 1.2 Mt of copper production over the next five years remains unchanged, with production expected to be weighted towards the latter years. On 13 August 2021, Escondida successfully completed negotiations for a new collective agreement with the Union N[o] 1 of Operators and Maintainers, effective for 36 months from 2 August 2021.

Pampa Norte copper production increased by 59 per cent to 68 kt, reflecting the continued ramp-up of the Spence Growth Option (SGO), which has brought on a new concentrate stream. Guidance for the 2022 financial year remains unchanged at between 330 and 370 kt with the new stream of concentrate production at Spence partially offset by a forecast decline in stacking grade at Pampa Norte of approximately 10 per cent. The ramp up to full production capacity at SGO is expected to be complete by December 2021, following which Spence is forecast to average 300 ktpa of production (including cathodes) over the first four years of operation. On 11 September 2021, Cerro Colorado and Union N[o] 1 (Operators and Maintainers) reached a new collective agreement, effective for 36 months from 1 September 2021.

Olympic Dam copper production decreased by 43 per cent to 30 kt, reflecting the ramp down and commencement of the major smelter maintenance campaign, approximately one month later than plan due to COVID-19 border restrictions impacting the availability of workforce. The maintenance campaign is expected to complete towards the end of the December 2021 quarter, followed by a ramp up to full capacity by March 2022. Guidance for the 2022 financial year remains unchanged at between 140 and 170 kt.

Antamina copper production increased by three per cent to 36 kt and zinc production decreased by three per cent to 33 kt, reflecting higher copper and lower zinc head grades. Guidance remains unchanged for the 2022 financial year, with copper production of between 120 and 140 kt, and zinc production of between 115 and 130 kt.

BHP Operational Review for the quarter ended 30 September 2021

6

Iron Ore

Production

Production
Sep Q21 Sep Q21
vs vs
Sep Q21 Sep Q20 Jun Q21
Iron ore production (kt) 63,299 (4%) (3%)

Iron ore – Total iron ore production decreased by four per cent to 63 Mt. Guidance for the 2022 financial year remains unchanged at between 249 and 259 Mt.

WAIO production decreased by six per cent to 62 Mt (71 Mt on a 100 per cent basis), mainly reflecting higher planned maintenance during the quarter, including major maintenance of car dumper one and the train load out at Jimblebar. Temporary rail labour shortages related to COVID-19 related border restrictions also had a minor impact. This was partially offset by strong mine performance and optimisation of Yandi’s end-of-life ramp-down. South Flank ramp up continues, with additional temporary crushing capacity to provide an ore for rail buffer during commissioning. Ramp up to full production capacity of 80 Mtpa (100 per cent basis) over three years remains unchanged.

On 7 September 2021, BHP received regulatory approval to increase capacity at our Port Hedland operations to 330 Mtpa (100 per cent basis), subject to the outcomes of standard appeals processes. Our near-term focus remains on sustainable achievement of 290 Mtpa, with plans to creep beyond this through productivity in the medium term. To support this on the 13 October 2021, the Board approved a port debottlenecking program which is expected to commence in the December 2021 quarter.

Samarco production was 1.0 Mt following the recommencement of iron ore pellet production at one concentrator in December 2020. Guidance of between 3 and 4 Mt (BHP share) remains unchanged for the 2022 financial year.

Coal

Production

Production
Sep Q21 Sep Q21
vs vs
Sep Q21 Sep Q20 Jun Q21
Metallurgical coal (kt) 8,850 (9%) (25%)
Energy coal (kt) 4,238 17% (6%)

Metallurgical coal – Metallurgical coal production decreased by nine per cent to 9 Mt (16 Mt on a 100 per cent basis). Guidance for the 2022 financial year remains unchanged at between 39 and 44 Mt (70 and 78 Mt on a 100 per cent basis), with volumes weighted to the second half of the year following planned maintenance in the September 2021 quarter.

Queensland Coal production decreased as a result of planned wash plant maintenance at Goonyella and Peak Downs, planned dragline maintenance at Caval Ridge and mining in higher strip ratio areas at Poitrel in line with the mine plan. This was partially offset by record stripping at BMC and a significant uplift in truck productivity at South Walker Creek.

Energy coal – Energy coal production increased by 17 per cent to 4 Mt. Guidance for the 2022 financial year remains unchanged at between 13 and 15 Mt. Following our announcement to divest our interest in Cerrejón in June 2021, Cerrejón volumes are no longer included in energy coal guidance and will be reported separately until transaction completion, which is expected to occur in the second half of the 2022 financial year.

NSWEC production increased as a result of increased stripping volumes enabled by improved truck productivity and reduced wet weather impacts. The shiploader at the Newcastle port, which was damaged in November 2020, is now back in operation and operating at full design capacity.

BHP Operational Review for the quarter ended 30 September 2021

7

Other

Nickel production

Nickelproduction
Sep Q21 Sep Q21
vs vs
Sep Q21 Sep Q20 Jun Q21
Nickel (kt) 17.8 (20%) (21%)

Nickel – Nickel West production decreased by 20 per cent to 18 kt, reflecting planned maintenance at the Kalgoorlie Smelter, Kwinana Refinery and the Leinster and Kambalda concentrators in the September 2021 quarter. Guidance for the 2022 financial year remains unchanged at between 85 and 95 kt. The first batch of nickel sulphate crystals were produced in the September 2021 quarter and customer certification is underway. We expect first saleable production in the December 2021 quarter.

Potash – In August 2021, we announced the approval of capital expenditure of US$5.7 billion (C$7.5 billion) for the Jansen Stage 1 project. Construction is expected to take approximately six years, followed by a ramp up period of two years, with first production expected in the 2027 calendar year.

A separate US$2.97 billion scope of work for construction of two shafts and associated infrastructure at the site is 96% complete and is expected to be complete in the 2022 calendar year.

Projects

Projects
Project and Capital Initial Capacity Progress
ownership expenditure production
US$M target date
Jansen Potash 2,972 CY27 Investment to finish the excavation and lining of The project is 96% complete.
(Canada) the production and service shafts, and to continue Target project completion in
100% the installation of essential surface infrastructure CY22.
and utilities.
Jansen Stage 1 5,723 CY27 Design, engineering and construction of an Approved in August 2021.
(Canada) underground potash mine and surface
100% infrastructure, with capacity to produce 4.35 Mtpa.

Minerals exploration

Minerals exploration expenditure for the September 2021 quarter was US$56 million, of which US$42 million was expensed. We have continued to add to our early stage options in future facing commodities. Greenfield minerals exploration is being undertaken on advancing copper targets in Chile, Ecuador, Colombia, Mexico, Peru, Canada, Australia and the south-west United States. Nickel targets are also being advanced in Canada and Australia. Specifically in copper, we are undertaking target drilling in Chile, Ecuador and the United States, while further drilling is planned in the 2022 financial year in Australia and Mexico.

On 14 October 2021, BHP exercised its option to form an exploration joint venture with Red Tiger Resources for the Intercept Hill copper project, which borders Oak Dam in South Australia. BHP’s joint venture interest commences at 65 per cent with the option to earn a further 10 per cent over the next three years. This follows BHP’s completion of Stage 1 of an exploration farm-in agreement with Red Tiger Resources, announced on 31 October 2018.

In October 2021, BHP also executed its farm-in agreement for the early-stage prospective Elliott copper project in the Northern Territory, Australia. On execution of the agreement, the area of tenements covered had increased by approximately 40 per cent since September 2020, up to 7,200 km[2] . Under the terms of the agreement, BHP can earn up to 75 per cent interest in Elliott by spending up to A$25 million over 10 years.

At Oak Dam in South Australia, BHP is continuing next stage resource definition drilling, after commencing the program in May 2021.

In nickel, additional to our Support Agreement with Noront Resources (Noront) to make an all-cash takeover offer for Noront, our Midland Exploration partners are progressing work towards drill-targets in northern Quebec for nickel sulphides.

BHP Operational Review for the quarter ended 30 September 2021

8

Variance analysis relates to the relative performance of BHP and/or its operations during the 2022 financial year compared with the 2021 financial year, unless otherwise noted. Production volumes, sales volumes and capital and exploration expenditure from subsidiaries are reported on a 100 per cent basis; production and sales volumes from equity accounted investments and other operations are reported on a proportionate consolidation basis. Numbers presented may not add up precisely to the totals provided due to rounding. Copper equivalent production based on 2021 financial year average realised prices.

The following footnotes apply to this Operational Review:

(1) 2022 financial year unit cost guidance: Petroleum US$11-12/boe, Escondida US$1.20-1.40/lb, WAIO US$17.50-18.50/t, Queensland Coal US$80-90/t and NSWEC US$62-70/t; based on exchange rates of AUD/USD 0.78 and USD/CLP 727.

The following abbreviations may have been used throughout this report: barrels (bbl); billion cubic feet (bcf); cost and freight (CFR); cost, insurance and freight (CIF); dry metric tonne unit (dmtu); free on board (FOB); grams per tonne (g/t); kilograms per tonne (kg/t); kilometre (km); metre (m); million barrels of oil equivalent (MMboe); million barrels of oil per day (MMbpd); million cubic feet per day (MMcf/d); million tonnes (Mt); million tonnes per annum (Mtpa); ounces (oz); pounds (lb); thousand barrels of oil equivalent (Mboe); thousand barrels of oil equivalent per day (Mboe/d); thousand ounces (koz); thousand standard cubic feet (Mscf); thousand tonnes (kt); thousand tonnes per annum (ktpa); thousand tonnes per day (ktpd); tonnes (t); and wet metric tonnes (wmt).

In this release, the terms ‘BHP’, the ‘Group’, ‘BHP Group’, ‘we’, ‘us’, ‘our’ and ourselves’ are used to refer to BHP Group Limited, BHP Group plc and, except where the context otherwise requires, their respective subsidiaries as defined in note 30 ‘Subsidiaries’ in section 3.1 of BHP’s 30 June 2021 Annual Report and Form 20-F. Those terms do not include non-operated assets. Notwithstanding that this release may include production, financial and other information from non-operated assets, non-operated assets are not included in the BHP Group and, as a result, statements regarding our operations, assets and values apply only to our operated assets unless stated otherwise. Our non-operated assets include Antamina, Cerrejón, Samarco, Atlantis, Mad Dog, Bass Strait and North West Shelf. BHP Group cautions against undue reliance on any forward-looking statement or guidance in this release, particularly in light of the current economic climate and significant volatility, uncertainty and disruption arising in connection with COVID-19. These forward looking statements are based on information available as at the date of this release and are not guarantees or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control and which may cause actual results to differ materially from those expressed in the statements contained in this release.

BHP Operational Review for the quarter ended 30 September 2021

9

Further information on BHP can be found at: bhp.com

Authorised for lodgement by: Stephanie Wilkinson Group Company Secretary

Media Relations

Email: [email protected]

Australia and Asia

Gabrielle Notley Tel: +61 3 9609 3830 Mobile: +61 411 071 715

Europe, Middle East and Africa

Neil Burrows Tel: +44 20 7802 7484 Mobile: +44 7786 661 683

Americas

Judy Dane Tel: +1 713 961 8283 Mobile: +1 713 299 5342

BHP Group Limited ABN 49 004 028 077 LEI WZE1WSENV6JSZFK0JC28 Registered in Australia Registered Office: Level 18, 171 Collins Street Melbourne Victoria 3000 Australia Tel +61 1300 55 4757 Fax +61 3 9609 3015

Investor Relations

Email: [email protected]

Australia and Asia

Dinesh Bishop Mobile: +61 407 033 909

Europe, Middle East and Africa

James Bell Tel: +44 20 7802 7144 Mobile: +44 7961 636 432

Americas

Brian Massey Tel: +1 713 296 7919 Mobile: +1 832 870 7677

BHP Group plc Registration number 3196209 LEI 549300C116EOWV835768 Registered in England and Wales Registered Office: Nova South, 160 Victoria Street London SW1E 5LB United Kingdom Tel +44 20 7802 4000 Fax +44 20 7802 4111

Members of the BHP Group which is headquartered in Australia

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BHP Operational Review for the quarter ended 30 September 2021

10

Production summary

Production summary
BHP
interest		 Sep
Dec
Mar
Jun
Sep
Sep
Sep
2020
2020
2021
2021
2021
2021
2020
~~Sep-20~~
~~Dec-20~~
~~Mar-21~~
~~Jun-21~~
~~Sep-21~~
Year to date
Quarter ended
Petroleum (1)
Petroleum
Production
Crude oil, condensate and NGL (Mboe)
Natural gas (bcf)
Total (Mboe)		 11,507
10,729
11,601
12,205
12,751
12,751
11,507
90.9
78.5
82.6
88.6
88.4
88.4
90.9
26,657
23,812
25,368
26,972
27,484
27,484
26,657
Copper (2)
Copper
Payable metal in concentrate (kt)
Escondida(3)
57.5%
Pampa Norte(4)
100.0%
Antamina
33.8%
Total
Cathode (kt)
Escondida(3)
57.5%
Pampa Norte(4)
100%
Olympic Dam
100%
Total
Total copper (kt)
Lead
Payable metal in concentrate (t)
Antamina
33.8%
Total
Zinc
Payable metal in concentrate (t)
Antamina
33.8%
Total
Gold
Payable metal in concentrate (troy oz)
Escondida(3)
57.5%
Pampa Norte(4)
100%
Olympic Dam (refined gold)
100%
Total
Silver
Payable metal in concentrate (troy koz)
Escondida(3)
57.5%
Pampa Norte(4)
100%
Antamina
33.8%
Olympic Dam (refined silver)
100%
Total
Uranium
Payable metal in concentrate (t)
Olympic Dam
100%
Total
Molybdenum
Payable metal in concentrate (t)
Pampa Norte(4)
100%
Antamina
33.8%
Total		 236.7
236.7
202.7
195.6
194.7
194.7
236.7
-
0.7
5.6
21.1
26.4
26.4
-
34.6
38.6
34.7
36.1
35.8
35.8
34.6
271.3
276.0
243.0
252.8
256.9
256.9
271.3
47.9
50.9
46.6
51.1
49.0
49.0
47.9
42.5
53.6
46.4
48.3
41.1
41.1
42.5
51.5
47.6
55.4
50.8
29.5
29.5
51.5
141.9
152.1
148.4
150.2
119.6
119.6
141.9
413.2
428.1
391.4
403.0
376.5
376.5
413.2
690
993
468
381
378
378
690
690
993
468
381
378
378
690
34,398
41,909
33,299
35,483
33,289
33,289
34,398
34,398
41,909
33,299
35,483
33,289
33,289
34,398
42,332
47,789
37,954
38,893
41,962
41,962
42,332
-
-
-
4,728
6,967
6,967
-
36,608
23,837
37,075
48,478
26,277
26,277
36,608
78,940
71,626
75,029
92,099
75,206
75,206
78,940
1,580
1,627
1,318
1,234
1,291
1,291
1,580
-
-
-
214
273
273
-
1,326
1,767
1,463
1,409
1,367
1,367
1,326
157
193
275
185
191
191
157
3,063
3,587
3,056
3,042
3,122
3,122
3,063
874
945
834
614
531
531
874
874
945
834
614
531
531
874
-
-
-
-
-
-
-
284
192
276
111
142
142
284
284
192
276
111
142
142
284

BHP Operational Review for the quarter ended 30 September 2021

11

Production summary

Production summary
BHP
interest		 Sep
Dec
Mar
Jun
Sep
Sep
Sep
2020
2020
2021
2021
2021
2021
2020
Year to date
Quarter ended
Iron Ore
Iron Ore
Production (kt)(5)
Newman
85%
Area C Joint Venture
85%
Yandi Joint Venture
85%
Jimblebar(6)
85%
Samarco
50%
Total		 16,410
17,637
14,614
14,560
16,461
16,461
16,410
11,889
11,567
13,010
15,920
18,947
18,947
11,889
17,666
16,413
16,112
18,405
11,834
11,834
17,666
20,075
16,740
15,241
15,337
15,009
15,009
20,075
-
37
878
1,023
1,048
1,048
-
66,040
62,394
59,855
65,245
63,299
63,299
66,040
Coal
Metallurgical coal
Production (kt) (7)
BMA
50%
BHP Mitsui Coal(8)
80%
Total
Energy coal
Production (kt)
NSW Energy Coal
100%
Total		 7,365
7,539
7,727
9,253
6,715
6,715
7,365
2,325
1,983
1,863
2,570
2,135
2,135
2,325
9,690
9,522
9,590
11,823
8,850
8,850
9,690
3,624
3,229
2,981
4,492
4,238
4,238
3,624
3,624
3,229
2,981
4,492
4,238
4,238
3,624
Other
Nickel
Saleable production (kt)
Nickel West
100%
Total
Cobalt
Saleable production (t)
Nickel West
100%
Total		 22.2
24.0
20.4
22.4
17.8
17.8
22.2
22.2
24.0
20.4
22.4
17.8
17.8
22.2
238
236
273
241
177
177
238
238
236
273
241
177
177
238
Assets held for sale(9)
Energy coal
Production (kt)
Cerrejón
33.3%
Total		 1,038
347
1,795
1,784
2,060
2,060
1,038
1,038
347
1,795
1,784
2,060
2,060
1,038

(1) LPG and ethane are reported as natural gas liquids (NGL). Product-specific conversions are made and NGL is reported in barrels of oil equivalent (boe). Total boe conversions are based on 6 bcf of natural gas equals 1,000 Mboe.

(2) Metal production is reported on the basis of payable metal.

(3) Shown on a 100% basis. BHP interest in saleable production is 57.5%.

(4) Includes Cerro Colorado and Spence.

(5) Iron ore production is reported on a wet tonnes basis.

(6) Shown on a 100% basis. BHP interest in saleable production is 85%.

(7) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.

(8) Shown on a 100% basis. BHP interest in saleable production is 80%.

(9) Cerrejón volumes will be reported separately from 1 July 2021 until transaction completion.

Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.

BHP Operational Review for the quarter ended 30 September 2021

12

Production and sales report

Production and sales report
Sep
Dec
Mar
Jun
Sep
2020
2020
2021
2021
2021
Quarter ended		 Year to date
Sep
Sep
2021
2020
Petroleum(1)
Bass Strait
Crude oil and condensate
(Mboe)
NGL
(Mboe)
Natural gas
(bcf)
Total petroleum products
(Mboe)
North West Shelf
Crude oil and condensate
(Mboe)
NGL
(Mboe)
Natural gas
(bcf)
Total petroleum products
(Mboe)
Pyrenees
Crude oil and condensate
(Mboe)
Total petroleum products
(Mboe)
Macedon(2)
Crude oil and condensate
(Mboe)
Natural gas
(bcf)
Total petroleum products
(Mboe)
Atlantis(3)
Crude oil and condensate
(Mboe)
NGL
(Mboe)
Natural gas
(bcf)
Total petroleum products
(Mboe)
Mad Dog (3)
Crude oil and condensate
(Mboe)
NGL
(Mboe)
Natural gas
(bcf)
Total petroleum products
(Mboe)
Shenzi (3) (4)
Crude oil and condensate
(Mboe)
NGL
(Mboe)
Natural gas
(bcf)
Total petroleum products
(Mboe)
Trinidad/Tobago
Crude oil and condensate
(Mboe)
Natural gas
(bcf)
Total petroleum products
(Mboe)
Other Americas (3) (5)
Crude oil and condensate
(Mboe)
NGL
(Mboe)
Natural gas
(bcf)
Total petroleum products
(Mboe)
Algeria
Crude oil and condensate
(Mboe)
Total petroleum products
(Mboe)		 1,305
1,003
859
1,205
1,201
1,660
1,057
1,035
1,563
1,655
34.1
23.4
22.7
32.8
35.8
8,648
5,960
5,677
8,235
8,823
1,215
1,180
1,183
933
973
162
165
188
177
148
29.6
30.4
31.1
26.5
24.3
6,310
6,412
6,554
5,527
5,171
837
826
679
690
710
837
826
679
690
710
1
1
1
-
1
12.7
12.6
12.4
12.6
12.7
2,118
2,101
2,068
2,100
2,118
2,421
2,385
2,590
3,117
3,171
154
147
171
218
222
1.2
1.1
1.4
1.6
1.7
2,775
2,715
2,994
3,602
3,676
1,211
930
1,209
1,099
1,155
48
38
57
77
46
0.2
0.1
0.2
0.2
0.2
1,292
985
1,299
1,209
1,234
1,395
1,764
2,328
2,023
2,016
71
87
130
87
102
0.3
0.3
0.4
0.1
0.4
1,516
1,901
2,525
2,127
2,185
102
96
139
236
491
12.8
10.5
14.4
14.7
13.3
2,235
1,846
2,539
2,686
2,708
212
190
187
104
83
2
11
-
8
3
-
0.1
-
0.1
-
214
218
187
129
86
711
849
845
668
774
711
849
845
668
774		 1,201
1,305
1,655
1,660
35.8
34.1
8,823
8,648
973
1,215
148
162
24.3
29.6
5,171
6,310
710
837
710
837
1
1
12.7
12.7
2,118
2,118
3,171
2,421
222
154
1.7
1.2
3,676
2,775
1,155
1,211
46
48
0.2
0.2
1,234
1,292
2,016
1,395
102
71
0.4
0.3
2,185
1,516
491
102
13.3
12.8
2,708
2,235
83
212
3
2
-
-
86
214
774
711
774
711

BHP Operational Review for the quarter ended 30 September 2021

13

Production and sales report

Production and sales report
Sep
Dec
Mar
Jun
Sep
2020
2020
2021
2021
2021
Quarter ended		 Year to date
Sep
Sep
2021
2020
Petroleum(1)
Total production
Crude oil and condensate
(Mboe)
NGL
(Mboe)
Natural gas
(bcf)
Total
(Mboe)		 9,410
9,224
10,020
10,075
10,575
2,097
1,505
1,581
2,130
2,176
90.9
78.5
82.6
88.6
88.4
26,657
23,812
25,368
26,972
27,484		 10,575
9,410
2,176
2,097
88.4
90.9
27,484
26,657

(1) Total boe conversions are based on 6 bcf of natural gas equals 1,000 Mboe. Negative production figures represent finalisation adjustments.

(2) Previously reported as 'Other Australia'. No change to reported numbers.

(3) Gulf of Mexico volumes are net of royalties.

(4) BHP completed the acquisition of an additional 28% working interest in Shenzi on 6 November 2020, taking its total working interest to 72%.

(5) Other Americas includes Neptune, Genesis and Overriding Royalty Interest.

BHP Operational Review for the quarter ended 30 September 2021

14

Production and sales report

Production and sales report
Sep
Dec
Mar
Jun
Sep
2020
2020
2021
2021
2021
Quarter ended		 Year to date
Sep
Sep
2021
2020
Copper
Escondida, Chile (1)
Material mined
(kt)
Concentrator throughput(2)
(kt)
Average copper grade - concentrator(3)
(%)
Production ex mill
(kt)
Production
Payable copper
(kt)
Copper cathode (EW)
(kt)
- Oxide leach
(kt)
- Sulphide leach
(kt)
Total copper
(kt)
Payable gold concentrate
(troy oz)
Payable silver concentrate
(troy koz)
Sales
Payable copper
(kt)
Copper cathode (EW)
(kt)
Payable gold concentrate
(troy oz)
Payable silver concentrate
(troy koz)
Metals production is payable metal unless otherwise stated.		 83,357
97,274
95,978
104,043
113,874
34,733
36,303
32,654
31,903
33,528
0.85%
0.83%
0.78%
0.77%
0.73%
243.9
246.1
207.8
202.8
201.2
236.7
236.7
202.7
195.6
194.7
47.9
50.9
46.6
51.1
49.0
15.3
18.0
16.1
14.5
14.8
32.6
32.9
30.5
36.6
34.2
284.6
287.6
249.3
246.7
243.7
42,332
47,789
37,954
38,893
41,962
1,580
1,627
1,318
1,234
1,291
237.1
244.3
196.9
194.1
190.5
46.5
47.7
49.6
49.6
46.7
42,332
47,789
37,954
38,893
41,962
1,580
1,627
1,318
1,234
1,291		 113,874
83,357
33,528
34,733
0.73%
0.85%
201.2
243.9
194.7
236.7
49.0
47.9
14.8
15.3
34.2
32.6
243.7
284.6
41,962
42,332
1,291
1,580
190.5
237.1
46.7
46.5
41,962
42,332
1,291
1,580

(1) Shown on a 100% basis. BHP interest in saleable production is 57.5%.

(2) Previously reported as 'Sulphide ore milled'. No change to reported numbers.

(3) Previously reported as 'Average concentrator head grade'. No change to reported numbers.

BHP Operational Review for the quarter ended 30 September 2021

15

Production and sales report

Production and sales report
Sep
Dec
Mar
Jun
Sep
2020
2020
2021
2021
2021
Quarter ended		 Year to date
Sep
Sep
2021
2020
Copper (continued)
Metals production is payable metal unless otherwise stated.
Pampa Norte, Chile
Cerro Colorado
Material mined
(kt)
Ore stacked(1)
(kt)
Average copper grade - stacked(2)
(%)
Production
Copper cathode (EW)
(kt)
Sales
Copper cathode (EW)
(kt)
Spence
Material mined
(kt)
Ore stacked(1)
(kt)
Average copper grade - stacked(2)
(%)
Concentrator throughput(3)
(kt)
Average copper grade - concentrator(4)
(%)
Production
Payable copper
(kt)
Copper cathode (EW)
(kt)
Total copper
(kt)
Payable gold concentrate(5)
(troy oz)
Payable silver concentrate(5)
(troy koz)
Payable molybdenum(6)
(t)
Sales
Payable copper
(kt)
Copper cathode (EW)
(kt)
Payable gold concentrate(5)
(troy oz)
Payable silver concentrate(5)
(troy koz)
Payable molybdenum(6)
(t)		 12,618
6,750
6,153
5,498
5,378
4,036
3,562
3,283
3,702
3,566
0.66%
0.58%
0.58%
0.58%
0.60%
15.8
15.8
13.9
14.7
13.4
14.6
16.6
13.2
15.4
12.1
18,260
18,485
19,195
21,262
21,154
4,408
5,602
5,536
4,609
5,258
1.10%
0.83%
0.64%
0.72%
0.64%
-
1,207
2,471
4,929
5,786
-
0.43%
0.58%
0.63%
0.65%
-
0.7
5.6
21.1
26.4
26.7
37.8
32.5
33.6
27.7
26.7
38.5
38.1
54.7
54.1
-
-
-
4,728
6,967
-
-
-
214
273
-
-
-
-
-
-
-
1.8
20.8
28.4
24.1
40.9
30.7
34.1
27.7
-
-
-
4,728
6,967
-
-
-
214
273
-
-
-
-
-		 5,378
12,618
3,566
4,036
0.60%
0.66%
13.4
15.8
12.1
14.6
21,154
18,260
5,258
4,408
0.64%
1.10%
5,786
-
0.65%
-
26.4
-
27.7
26.7
54.1
26.7
6,967
-
273
-
-
-
28.4
-
27.7
24.1
6,967
-
273
-
-
-

(1) Previously reported as 'Ore milled'. No change to reported numbers.

(2) Previously reported as 'Average copper grade'. No change to reported numbers.

(3) New line reflecting ore processed through the concentrator.

(4) New line reflecting the amount of copper contained in the ore processed through the concentrator.

(5) New line reflecting payable metal contained in the copper concentrate.

(6) New line reflecting payable molybdenum contained in the molybdenum concentrate. No saleable production in the September 2021 quarter.

BHP Operational Review for the quarter ended 30 September 2021

16

Production and sales report

Production and sales report
Sep
Dec
Mar
Jun
Sep
2020
2020
2021
2021
2021
Quarter ended		 Year to date
Sep
Sep
2021
2020
Copper (continued)
Metals production is payable metal unless otherwise stated.
Antamina, Peru
Material mined (100%)
(kt)
45,458
57,029
53,762
63,393
66,581
Concentrator throughput (100%)(1)
(kt)
13,202
14,083
12,651
13,466
13,219
Average head grades
- Copper
(%)
0.94%
0.97%
0.94%
0.93%
0.97%
- Zinc
(%)
1.30%
1.30%
1.16%
1.24%
1.16%
Production
Payable copper
(kt)
34.6
38.6
34.7
36.1
35.8
Payable zinc
(t)
34,398
41,909
33,299
35,483
33,289
Payable silver
(troy koz)
1,326
1,767
1,463
1,409
1,367
Payable lead
(t)
690
993
468
381
378
Payable molybdenum
(t)
284
192
276
111
142
Sales
Payable copper
(kt)
33.8
40.7
31.7
37.3
32.7
Payable zinc
(t)
32,769
45,109
34,141
32,044
32,635
Payable silver
(troy koz)
1,310
1,728
1,342
1,540
1,103
Payable lead
(t)
748
945
689
556
232
Payable molybdenum
(t)
392
352
192
268
86
(1) Previously reported as 'Sulphide ore milled (100%)'. No change to reported numbers.		 66,581
45,458
13,219
13,202
0.97%
0.94%
1.16%
1.30%
35.8
34.6
33,289
34,398
1,367
1,326
378
690
142
284
32.7
33.8
32,635
32,769
1,103
1,310
232
748
86
392
Olympic Dam, Australia
Material mined(1)
(kt)
2,203
2,379
1,979
2,143
1,935
Ore Milled
(kt)
2,443
2,377
2,238
2,429
2,024
Average copper grade
(%)
2.03%
2.01%
2.02%
1.95%
2.03%
Average uranium grade
(kg/t)
0.53
0.60
0.61
0.56
0.55
Production
Copper cathode (ER and EW)
(kt)
51.5
47.6
55.4
50.8
29.5
Payable uranium
(t)
874
945
834
614
531
Refined gold
(troy oz)
36,608
23,837
37,075
48,478
26,277
Refined silver
(troy koz)
157
193
275
185
191
Sales
Copper cathode (ER and EW)
(kt)
49.5
46.6
55.6
52.7
29.1
Payable uranium
(t)
859
999
779
1,179
536
Refined gold
(troy oz)
36,054
21,390
38,852
47,300
24,654
Refined silver
(troy koz)
222
165
242
245
126		 1,935
2,203
2,024
2,443
2.03%
2.03%
0.55
0.53
29.5
51.5
531
874
26,277
36,608
191
157
29.1
49.5
536
859
24,654
36,054
126
222

(1) Material mined refers to underground ore mined, subsequently hoisted or trucked to surface.

BHP Operational Review for the quarter ended 30 September 2021

17

Production and sales report

Production and sales report
Sep
Dec
Mar
Jun
Sep
2020
2020
2021
2021
2021
Quarter ended		 Year to date
Sep
Sep
2021
2020
Iron Ore
Western Australia Iron Ore, Australia
Production
Newman
(kt)
16,410
17,637
14,614
14,560
16,461
Area C Joint Venture
(kt)
11,889
11,567
13,010
15,920
18,947
Yandi Joint Venture
(kt)
17,666
16,413
16,112
18,405
11,834
Jimblebar(1)
(kt)
20,075
16,740
15,241
15,337
15,009
Total production
(kt)
66,040
62,357
58,977
64,222
62,251
Total production (100%)
(kt)
74,152
70,407
66,695
72,848
70,587
Sales
Lump
(kt)
17,056
16,703
15,593
16,410
17,546
Fines
(kt)
48,390
46,124
42,939
48,837
45,039
Total
(kt)
65,446
62,827
58,532
65,247
62,585
Total sales (100%)
(kt)
73,355
70,772
66,032
73,712
70,815
(1) Shown on a 100% basis. BHP interest in saleable production is 85%.
Iron ore production and sales are reported on a wet tonnes basis.		 16,461
16,410
18,947
11,889
11,834
17,666
15,009
20,075
62,251
66,040
70,587
74,152
17,546
17,056
45,039
48,390
62,585
65,446
70,815
73,355
Samarco, Brazil (1)
Production
(kt)
-
37
878
1,023
1,048
Sales
(kt)
-
-
646
1,052
1,111		 1,048
-
1,111
-

(1) Samarco commenced iron ore pellet production in December 2020 after meeting the licencing requirements to restart operations at the Germano complex in Minas Gerais and Ubu complex in Espírito Santo, Brazil.

BHP Operational Review for the quarter ended 30 September 2021

18

Production and sales report

Production and sales report
Sep
Dec
Mar
Jun
Sep
2020
2020
2021
2021
2021
Quarter ended		 Year to date
Sep
Sep
2021
2020
Coal
Queensland Coal, Australia
Production (1)
BMA
Blackwater
(kt)
1,184
1,737
1,416
1,887
1,403
Goonyella
(kt)
2,312
2,152
2,232
2,752
1,798
Peak Downs
(kt)
1,487
1,213
1,595
1,597
1,223
Saraji
(kt)
817
1,043
1,238
1,391
999
Daunia
(kt)
490
464
496
478
377
Caval Ridge
(kt)
1,075
930
750
1,148
915
Total BMA
(kt)
7,365
7,539
7,727
9,253
6,715
Total BMA (100%)
(kt)
14,730
15,078
15,454
18,506
13,430
BHP Mitsui Coal
(2)
South Walker Creek
(kt)
1,238
1,118
1,031
1,500
1,462
Poitrel
(kt)
1,087
865
832
1,070
673
Total BHP Mitsui Coal
(kt)
2,325
1,983
1,863
2,570
2,135
Total Queensland Coal
(kt)
9,690
9,522
9,590
11,823
8,850
Total Queensland Coal (100%)
(kt)
17,055
17,061
17,317
21,076
15,565
Sales
BMA
Coking coal
(kt)
6,187
6,531
6,752
7,801
5,415
Weak coking coal
(kt)
977
936
1,038
1,069
734
Thermal coal
(kt)
58
3
206
400
576
Total BMA
(kt)
7,222
7,470
7,996
9,270
6,725
Total BMA (100%)
(kt)
14,444
14,940
15,992
18,540
13,450
BHP Mitsui Coal
(2)
Coking coal
(kt)
671
604
357
535
313
Weak coking coal
(kt)
1,545
1,518
1,404
2,027
1,788
Total BHP Mitsui Coal
(kt)
2,216
2,122
1,761
2,562
2,101
Total Queensland Coal
(kt)
9,438
9,592
9,757
11,832
8,826
Total Queensland Coal (100%)
(kt)
16,660
17,062
17,753
21,102
15,551
(1) Production figures include some thermal coal.
(2) Shown on a 100% basis. BHP interest in saleable production is 80%.
Coal production is reported on the basis of saleable product.		 1,403
1,184
1,798
2,312
1,223
1,487
999
817
377
490
915
1,075
6,715
7,365
13,430
14,730
1,462
1,238
673
1,087
2,135
2,325
8,850
9,690
15,565
17,055
5,415
6,187
734
977
576
58
6,725
7,222
13,450
14,444
313
671
1,788
1,545
2,101
2,216
8,826
9,438
15,551
16,660
NSW Energy Coal, Australia
Production
(kt)
3,624
3,229
2,981
4,492
4,238
Sales thermal coal - export
(kt)
3,168
3,940
2,827
4,691
3,780		 4,238
3,624
3,780
3,168

BHP Operational Review for the quarter ended 30 September 2021

19

Production and sales report

Production and sales report
Sep
Dec
Mar
Jun
Sep
2020
2020
2021
2021
2021
Quarter ended		 Year to date
Sep
Sep
2021
2020
Other
Nickel West, Australia
Mt Keith
Nickel concentrate
(kt)
Average nickel grade
(%)
Leinster
Nickel concentrate
(kt)
Average nickel grade
(%)
Saleable production
Refined nickel(1)
(kt)
Nickel sulphate(2)
(kt)
Intermediates and nickel by-products(3)
(kt)
Total nickel
(kt)
Cobalt by-products
(t)
Sales
Refined nickel(1)
(kt)
Nickel sulphate(2)
(kt)
Intermediates and nickel by-products(3)
(kt)
Total nickel
(kt)
Cobalt by-products
(t)
Nickel production is reported on the basis of saleable product		 64.4
55.7
54.1
50.4
53.7
15.8
14.7
13.3
13.3
14.6
66.2
72.8
71.5
71.4
73.8
9.0
9.5
10.2
10.5
8.9
17.3
20.4
15.2
17.1
14.4
-
-
-
-
-
4.9
3.6
5.2
5.3
3.4
22.2
24.0
20.4
22.4
17.8
238
236
273
241
177
17.1
20.9
15.0
17.8
13.8
-
-
-
-
-
4.6
2.6
5.9
4.0
3.9
21.7
23.5
20.9
21.8
17.7
238
237
273
241
177		 53.7
64.4
14.6
15.8
73.8
66.2
8.9
9.0
14.4
17.3
-
-
3.4
4.9
17.8
22.2
177
238
13.8
17.1
-
-
3.9
4.6
17.7
21.7
177
238

(1) High quality refined nickel metal, including briquettes and powder.

(2) New line for nickel sulphate product. No saleable production in the September 2021 quarter.

(3) Nickel contained in matte and by-product streams.

Assets held for sale[(1)]

Coal production is reported on the basis of saleable product.

Cerrejón, Colombia
Production (kt) 1,038 347 1,795 1,784 2,060 2,060 1,038
Sales thermal coal - export (kt) 994 370 1,746 1,619 2,180 2,180 994

(1) Cerrejón volumes will be reported separately from 1 July 2021 until transaction completion.

BHP Operational Review for the quarter ended 30 September 2021

20

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