Page 168 - Annual Report 2020

The information presented by the Directors in this Directors’ Report 4.1 Review of operations, principal
relates to BHP Group Limited, BHP Group Plc and their respective
subsidiaries. Section 1 ‘Strategic Report’ (which includes the activities and state of affairs
Chair’s Review in section 1.1 and the Chief Executive Officer’s
Report in section 1.2, and incorporates the operating and financial A review of the operations of BHP during FY2020, the results
review), section 2 ‘Governance at BHP’, section 3 ‘Remuneration of those operations during FY2020 and the expected results of
Report’, section 5.5 ‘Lead Auditor’s Independence Declaration’ those operations in future financial years are set out in section 1,
and section 7 ‘Shareholder information’ are each incorporated by in particular in 1.1 to 1.8, 1.11 and 1.12 and in other material in this
reference into, and form part of, this Directors’ Report. In addition, Annual Report. Information on the development of BHP and likely
for the purposes of UK law, the Strategic Report in section 1 and the developments in future years also appears in those sections.
Remuneration Report in section 3 form separate reports and have We have excluded certain information from the Strategic Report
been separately approved by the Board for that purpose. in section 1 (which forms part of this Directors’ Report), to the
extent permitted by UK and Australian law, on the basis that such
For the purpose of the Financial Conduct Authority’s (FCA) Listing information relates to impending developments or matters in the
Rule 9.8.4C R, the applicable information required to be disclosed course of negotiation and disclosure would be seriously prejudicial
in accordance with FCA Listing Rule 9.8.4 R is set out in the to the interests of BHP. This is because such disclosure could be
sections below. misleading due to the fact it is premature or preliminary in nature,
relates to commercially sensitive contracts, would undermine
Applicable information required by FCA Section in this confidentiality between BHP and our suppliers and clients,
Listing Rule 9.8.4 R Annual Report or would otherwise unreasonably damage BHP. The categories
(1) Interest capitalised by the Group Section 5, note 21 of information omitted include forward looking estimates
Paragraphs (2), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13) and (14) and projections prepared for internal management purposes,
of Listing Rule 9.8.4 R are not applicable. information regarding BHP’s assets and projects, which
is developing and susceptible to change, and information
The Directors confirm, on the advice of the Risk and Audit relating to commercial contracts and pricing modules.
Committee, (RAC), that they consider the Annual Report (including Our principal activities during FY2020 are disclosed in section 1.
the Financial Statements), taken as a whole, is fair, balanced and
understandable, and provides the information necessary for We are among the world’s top producers of major commodities,
including iron ore, metallurgical coal and copper. We also have
shareholders to assess BHP’s position, performance, business
model and strategy. substantial interests in oil, gas and energy coal. No significant
changes in the nature of BHP’s principal activities occurred
during FY2020 other than as disclosed in section 1.
There were no significant changes in BHP’s state of affairs that
occurred during FY2020 and no significant post balance date
events other than as disclosed in section 1 and note 34 in section 5.
No other matter or circumstance has arisen since the end of
FY2020 that has significantly affected or is expected to significantly
affect the operations, the results of operations or state of affairs of
BHP in future years.

166 BHP Annual Report 2020