Strengthening BHP’s closure framework: A strategy to realise enduring value

BHP developed its original corporate closure framework in 2004, with an emphasis on standardising closure plan content and cost estimation. Since then, the framework has evolved with the release of ‘Our Requirements for Closure’ (OR Closure) in 2018, including the need for the development of optimised closure outcomes that result in enduring environmental and social benefits. OR Closure considers risks and opportunities to shareholder value and the communities and environment in which we operate. It drives toward optimised closure outcomes for our sites by balancing our values, obligations, safety, costs, and the expectations of external stakeholders. The OR purposefully shifts the development of ‘closure plans’ to ‘closure management plans’ to reflect the dynamic and integrated nature of successful closure planning from the earliest stages of exploration through to closure execution and beyond. This paper presents the revised closure framework, and how it incorporates the vision for the future state of closure planning within BHP, in its ongoing contribution to global development and its aspiration to leave a sustainable and positive legacy.