v3.24.2.u1
Property, plant and equipment (Tables)
 12 Months Ended
Jun. 30, 2024
Text block 1 [Abstract]  
Summary of Property, Plant and Equipment
    
Land and
buildings
    
Plant and
equipment
    
Other
mineral
assets
    
Assets under
construction
    
Exploration
and
evaluation
    
Total
  
    
US$M
    
US$M
    
US$M
    
US$M
    
US$M
    
US$M
  
Net book value – 30 June 2024
             
At the beginning of the financial year
   
 
8,140
 
  
 
36,654
 
  
 
13,304
 
  
 
13,481
 
  
 
239
 
  
 
71,818
 
Additions
1
   
 
27
 
  
 
1,206
 
  
 
795
 
  
 
8,840
 
  
 
58
 
  
 
10,926
 
Remeasurements of index-linked freight contracts
2
   
 
–
 
  
 
230
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
230
 
Depreciation for the year
   
 
(637
) 
  
 
(4,287
) 
  
 
(264
) 
  
 
–
 
  
 
–
 
  
 
(5,188
) 
Impairments for the year
3
   
 
(88
) 
  
 
(1,440
) 
  
 
(930
) 
  
 
(1,365
) 
  
 
(10
) 
  
 
(3,833
) 
Disposals
   
 
(1
) 
  
 
(15
) 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
(16
) 
Divestment of subsidiaries and operations
4
   
 
(293
) 
  
 
(1,093
) 
  
 
(23
) 
  
 
(44
) 
  
 
–
 
  
 
(1,453
) 
Transfers and other movements
   
 
417
 
  
 
3,249
 
  
 
(655
) 
  
 
(3,815
) 
  
 
(51
) 
  
 
(855
) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
At the end of the financial year
5
   
 
7,565
 
  
 
34,504
 
  
 
12,227
 
  
 
17,097
 
  
 
236
 
  
 
71,629
 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
– Cost
   
 
15,180
 
  
 
86,989
 
  
 
19,900
 
  
 
19,106
 
  
 
1,035
 
  
 
142,210
 
– Accumulated depreciation and impairments
   
 
(7,615
) 
  
 
(52,485
) 
  
 
(7,673
) 
  
 
(2,009
) 
  
 
(799
) 
  
 
(70,581
) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net book value – 30 June 2023
             
At the beginning of the financial year
      8,079       35,500       8,494       9,031       191       61,295  
Additions
1
      194       1,024       842       6,332       56       8,448  
Acquisition of subsidiaries and operations
6
      88       2,256       4,612       720       –       7,676  
Remeasurements of index-linked freight contracts
2
      –       53       –       –       –       53  
Depreciation for the year
      (586 )      (4,156 )      (225 )      –       –       (4,967 ) 
Impairments for the year
3
      –       (73 )      –       –       –       (73 ) 
Disposals
      (2 )      (6 )      –       –       –       (8 ) 
Transfers and other movements
      367       2,056       (419 )      (2,602 )      (8 )      (606 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
At the end of the financial year
5
      8,140       36,654       13,304       13,481       239       71,818  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
– Cost
      15,258       85,394       19,420       14,245       1,029       135,346  
– Accumulated depreciation and impairments
      (7,118 )      (48,740 )      (6,116 )      (764 )      (790 )      (63,528 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
1
 
Includes change in estimates and net foreign exchange gains/(losses) related to the closure and rehabilitation provisions for operating sites. Refer to note 15 ‘Closure and rehabilitation provisions’.
 
2
 
Relates to remeasurements of index-linked freight contracts including continuous voyage charters (CVCs). Refer to note 22 ‘Leases’.
 
3
 
Refer to note 13 ‘Impairment of
non-current
assets’ for information on impairments.
 
4
 
Relates to the divestment of the Blackwater and Daunia mines completed on 2 April 2024. Refer to note 3 ‘Exceptional items’ for more information.
 
5
 
Includes the carrying value of the Group’s
right-of-use
assets relating to land and buildings and plant and equipment of US$2,708 million (2023: US$2,809 million). Refer to note 22 ‘Leases’ for the movement of the
right-of-use
assets.
 
6
 
Relates to the acquisition of OZL on 2 May 2023. Refer to note 29 ‘Business combinations’ for more information.
Summary of Principal Depreciation Methods and Rates Applied to Major Asset Categories The table below summarises the principal depreciation methods and rates applied to major asset categories by the Group.
 
 
  
Category
   
Buildings
   
Plant and
equipment
   
Mineral rights
   
Capitalised exploration,
evaluation and
development
expenditure
  
 
 
Typical depreciation methodology
    SL    SL    UoP    UoP  
 
Depreciation rate
   
25-50
years		   
3-30
years		    Based on the rate of depletion of reserves    Based on the rate of depletion of reserves