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NEWS RELEASE Release Time IMMEDIATE Date 20 July 2021 09/21 BHP Release Number BHP OPERATIONAL REVIEW FOR THE YEAR ENDED 30 JUNE 2021 Note : All guidance is subject to further potential impacts from COVID - 19 during the 2022 financial year . Record production was achieved at Western Australia Iron Ore ( WAIO ) and Goonyella . Olympic Dam achieved both the highest annual copper production since the acquisition by BHP in 2005 and the highest gold production ever for the operation . Escondida maintained average concentrator throughput at record levels despite a challenging operating environment in Chile as a result of impacts from COVID - 19 . Petroleum production for the 2021 financial year was slightly above guidance . Full year production guidance for copper , iron ore , metallurgical coal and nickel were delivered , as was revised guidance for energy coal . • Full year unit cost guidance ( 1 ) expected to be achieved for WAIO , Escondida and Queensland Coal ( based on exchange rates of AUD / USD 0.70 and USD / CLP 769 ) . Petroleum unit costs are expected to be slightly better than guidance . New South Wales Energy Coal ( NSWEC ) unit costs are expected to be marginally above guidance . During the year , we successfully achieved first production at four major development projects , all of which were delivered on or ahead of schedule and on budget . The South Flank iron ore project in Western Australia and the Ruby oil and gas project in Trinidad and Tobago both achieved first production in May 2021. The Atlantis Phase 3 petroleum project and the Spence Growth Option copper project achieved first production in the first half of the 2021 financial year . • In exploration , we have continued to add to our early stage options in future facing commodities throughout the year , with the signing of an agreement for a nickel exploration alliance in Canada and of a farm - in agreement for the Elliott copper project in Australia . At Oak Dam in South Australia , next stage resource definition drilling to inform future design commenced in May 2021 . • The financial results for the second half of the 2021 financial year are expected to reflect certain items as summarised in the table on page 3 . Production Petroleum ( MMboe ) Copper ( kt ) Iron ore ( Mt ) FY21 Jun Q21 Jun Q21 vs Mar Q21 commentary ( vs FY20 ) ( vs Mar Q21 ) 102.8 ( 6 % ) 1,635.7 ( 5 % ) 253.5 2 % Metallurgical coal ( Mt ) 40.6 ( 1 % ) 27.0 Increased volumes due to higher seasonal demand at Bass Strait and improved 6 % uptime at Atlantis . 403.0 Higher volumes as a result of the ongoing ramp up of concentrate production at 3 % Spence following first production at the Spence Growth Option in December 2020 . 65.2 Increased volumes at WAIO reflects record quarterly production at Mining Area C , which 9 % included first ore from South Flank in May 2021 , and continued strong operational performance enabled by improved supply chain reliability . 11.8 Higher volumes at Queensland Coal reflects a strong underlying operational 23 % performance , including record quarterly production at Goonyella and BMA , following significant wet weather impacts in the prior period . 6.3 Higher volumes at NSWEC due to record wash plant performance and lower strip 31 % ratios , and significant weather impacts in the prior period . Energy coal ( Mt ) 19.3 ( 17 % ) Nickel ( kt ) 89.0 11 % 22.4 Higher volumes due to planned maintenance undertaken in the prior period . 10 % Group copper equivalent production for the 2021 financial year was broadly in line with the prior year . Group copper equivalent production for the 2022 financial year is expected to be in line with the 2021 financial year despite continued impacts from a reduction in operational workforces in our Chilean copper assets in response to COVID - 19 and petroleum natural field decline . BHP Operational Review for the year ended 30 June 2021 1