PERTH (miningweekly.com) – Diversified giant BHP on Tuesday unveiled that it had contributed A$79.3-billion in economic value to the Australian economy over the 12-month period.

The total national contribution to Australia comprises A$18.5-billion in tax, royalty and other payments to governments, A$16.5-billion of spending with suppliers, A$39.6-billion in dividends to shareholders, A$4.6-billion in employee wages, and A$106-million in social investments.

The miner employed 50 000 employees and contractors in Australia over the last year.

In the 2022 financial year, BHP made $17.3-billion in global income tax, royalty related income tax, royalty and government payments.

In Chile, BHP’s economic contribution in 2022 amounted to $7.7-billion, and to $6.8-billion to the UK, and a further $1.8-billion to the US, with the rest of the world receiving a $4.3-billion contribution.

In the company’s latest Economic Contribution Report, BHP noted that over the last ten years, the miner had paid $90.5-billion in global income taxes, royalty related income taxes, royalties and other payments to government. In Australia, these payments reached A$90.1-billion over the last decade.

BHP CFO David Lamont pointed out in the report that BHP was one of the largest corporate tax payers in Australia in 2022.

“Our global adjusted effective tax rate in 2022 was 32.1%, which is broadly in line with our average adjusted effective tax rate over the past decade of 33.3%. Once royalties are included, our 2022 rate increases to 38.9%.

“This significant contribution of taxation and royalty revenue to the countries where we operate gives governments the opportunity to provide essential services to their citizens and invest in their communities for the future. We also create value for our shareholders and other investors through the returns we provide, such as dividends,” said Lamont.

In the 2022 financial year, BHP’s adjusted effective tax rate in Australia was 42.7% including royalties.