Global Metals, Mining & Steel Conference Presentation
BALANCE SHEET AND CAPITAL MANAGEMENT
Quarterly net cash movements and shareholder returns
(US$M)
700
US$1.5B Net Cash
as at 31 March 2017
600
500
400
300
206
200
100
0
Sep-15
16 MAY 2017
134
80
53
294
308
239
192
Dec-15 Mar-16
Jun-16
Sep-16
Dec-16
645
Mar-17
500
Ordinary dividends
-Quarterly net cash movement
Additional Capital Management
US$500M Capital Management Program commenced in April
| 2017. Expected to be completed over a 12 month period
BANK OF AMERICA MERRILL LYNCH - GLOBAL METALS, MINING & STEEL CONFERENCE
Maximise cash flow
ROIC
Competition for
excess capital
Distribute a minimum
40% of Underlying
earnings as ordinary
dividends
Maintain safe and reliable
operations and an
investment grade credit
rating through the cycle
Cash flow priorities
SLIDE 10
ΞΙΙΙ
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SOUTH 32View entire presentation