The world’s largest mining company, BHP, is reducing short-term incentives by 20% for the 2023-24 fiscal year to all employees, according to the Australian Financial Review. According to sources quoted by AFR, the decision results from the company failing to meet internal performance targets, which includes cost and production goals, and a fatality at its Saraji coal mine in Queensland, Australia, during January.
This is not the first time BHP has done this. In 2019, the company reduced incentives by 20% due to several operational issues, including an iron ore train derailment in Western Australia in November 2018 and a fatality, which also occurred at the Saraji coal mine. Last year, BHP CEO Mike Henry said he planned to increase safety measures across all operations.
