What are BHP's growth plans in Chile?

In Chile, our copper assets, Pampa Norte and Escondida, represent 26% of the total copper production in the country, and we have projects in evaluation and execution phase in both operations. We have been in Chile for over 30 years, and we expect to continue growing for the next decades in the country. Can you discuss Escondida's and Pampa Norte's performance in 2023?

Last year, Escondida produced 1.073 million t, which is 4,4% more than the previous year, while Pampa Norte reported 279,6000 t of copper production.

Today we are focused on our current operations, on how we maintain operational excellence and grow organically through optimization and expansion processes.

During the last fiscal year our economic contribution to the country reached US$8.8 billion, with over 25,000 employees and contractors working in the company and US$1 billion spent across companies based in Antofagasta and Tarapacá. How does the implementation of technology allow BHP's assets to be more efficient?

The role of technology is fundamental to safely sustain the growth and efficiency of our operations. Concrete examples of the positive impacts on operational efficiency resulting from the incorporation of technology is our autonomy program. Last April, Spence achieved 100% of autonomy of its mining trucks fleet leading to improved safety and mining productivity. Also, the use of Artificial Intelligence and Machine Learning has allowed us to capture efficiencies in water and energy consumption, and to improve the flotation process in our concentrator plants. How does BHP view recent changes in Chile's mining royalty laws and tax framework?

The royalty discussion was very complex. We always all had one thing in common: it was essential to maintain Chile as a competitive player in the global copper industry. Today, with the law in force, we can see how royalties are reaching the regions and supporting the social agenda of the communities where we operate.

Given the good dialogue that was established during the royalty debate, we can now work towards new improvements in other areas, such as permits. From our perspective, a reform to the permitting system requires rationalization and a systemic view with a focus on delivering real outcomes, and not just to the process itself. Speeding up the permitting process will allow the country to find solutions to unlock large investments and to optimize current operations, capturing all the positive consequences in revenues, job creation and social value to the country. Spence set a benchmark in the Chilean mining industry for its representation of women in the workforce. What is the impact of this accomplishment on operational performance and workplace culture?

Our aspiration to achieve gender balance goes far beyond Spence. In 2016, we made a global commitment to achieve gender balance by 2025. At the time, the company only had 17.5% female representation and no player in the industry had committed to a goal of this magnitude.

We started on a path that we now know was right. We designed policies to close possible wage gaps, to adapt our recruitment and retention processes, to change the infrastructure of our sites, strengthen labor flexibility plans and designed training programs. In addition, we have found that incorporating more women significantly increases team productivity, improves safety, and creates more inclusive environments.

Chile and the Americas were BHP's first region to achieve gender balance. In Chile alone, we are almost three times the industry average, and at Spence we have the highest representation of women at any mine in Chile – exceeding 42%.

Now we are turning our attention to how we can advance diversity and inclusion as we go forward. Just as an example, how we create conditions to include people from the LGBT+ community, people with disabilities, members of Indigenous communities and other minorities. Achieving gender balance is only the first step. What are BHP's plans to maintain its position as one of Chile's top copper producers?

As a company, we have the capacity to face an ever-changing industry: we have an amazing workforce and an operating system that has enabled us to adapt to headwinds and uncertainties. It is through this that we will continue to invest in the long term safety, productivity and growth of our business. Certainly, at BHP we want to remain one of the leaders in the industry.