LONDON, May 12 (Reuters) - BHP Group will
stick with its capital allocation framework, which assesses the
best way to deploy spending across the group, despite the impact
of the coronavirus pandemic, Chief Executive Mike Henry said.
Speaking at a virtual presentation at Bank of America, Henry
said the framework, introduced in 2016, had "been a game
changer" for the company. "It's helped us to drive high quality
returns and growth, so it's not going anywhere," he said.
BHP, the world's largest listed miner, warned in April that
spending in the 2021 financial year would be lower than its
original guidance of $8 billion due to the coronavirus outbreak.
Henry also said BHP could act on the right M&A opportunity
but focus is on organic growth. He said the company is on track
to cut spending on overheads by more than $500 million by 2021,
relative to last financial year.
(Reporting by Zandi Shabalala; Editing by Jan Harvey)