13th Oct 2020 08:23
(Alliance News) - BHP Group PLC on Tuesday said a shareholder resolution related to cultural heritage protection has been withdrawn from consideration at its annual general meetings this week.
The AGM for BHP Group Ltd will be held virtually on Wednesday, with the meeting for BHP Group PLC to be held in London on Thursday.
A group of BHP shareholders had recommended to introduce interim steps to manage immediate risks to cultural heritage until such time that relevant laws in Australia are strengthened.
The board recommended its shareholders to vote against that resolution at the AGM. The resolution has been withdrawn by those shareholders who requisitioned it, BHP said Tuesday without providing a reason.
Back in May, BHP blew up a 46,000-year-old Aboriginal heritage site to expand an iron ore mine. The company apologised in June for the destruction of ancient rock shelters in the Juukan Gorge in Western Australia's Pilbara region and launched a review of operations there.
However, BHP defended its action, saying it had been given government approval to destroy up to 40 indigenous heritage sites in the ore-rich Pilbara. BHP subsequently said it would review its plans, but did not commit to protecting the Aboriginal sites, as it pursued an AUD4.5 billion, about USD3.1 billion, expansion of its South Flank iron ore mine.
Iron ore is Australia's top export, worth more than AUD77 billion to the economy last year. Much of it is extracted from the sparsely populated Pilbara, where indigenous groups have ownership rights over large swathes of the region.
Shares in the Anglo-Australian mining, metals and petroleum company were trading flat in London on Tuesday, while in Johannesburg, the stock was 0.5% lower. In Sydney, the stock closed down 0.4%.
By Evelina Grecenko; [email protected]
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