BHP Sells $3B Stake in Pilbara Power Network Mount Whaleback — one of the world’s largest open-cut iron-ore mines — depends on a vast inland power network that keeps crushers, haul roads and remote camps running across the Pilbara. This network supplies electricity not only to Mount Whaleback, but to BHP’s broader Western Australia Iron Ore (WAIO) operations and the nearby township of Newman. BlackRock Buys Nearly Half BHP has sold a near-half stake in this power system to US investment firm BlackRock’s Global Infrastructure Partners division in a deal worth $3 billion (AUD equivalent). Despite the sale, BHP retains operational control of the network. The new structure means BHP will pay an agreed tariff for the electricity it uses over a 25-year period. Freeing Up Capital for Growth BHP says the move allows it to recycle capital from long-life infrastructure into higher-return opportunities across its iron-ore business. Industry analysts note the deal is aimed at improving capital efficiency while maintaining stable power supply to essential mining operations. Why It Matters Power reliability is core to Pilbara iron-ore production, and the deal does not affect existing agreements with traditional owners, the WA Government, or local communities. With global iron-ore competitors tightening costs and new supply emerging, BHP is positioning itself to maintain long-term productivity and financial flexibility. What Happens Next The agreement is subject to approval from the Foreign Investment Review Board (FIRB), but no operational changes are expected. BHP has reiterated its medium-term goal of lifting Pilbara iron-ore output toward 305 million tonnes per year.

BHP Sells $3B Stake in Pilbara Power Network Mount Whaleback — one of the world’s largest open-cut iron-ore mines — depends on a vast inland power network that keeps crushers, haul roads and remote camps running across the Pilbara. This network supplies electricity not only to Mount Whaleback, but to BHP’s broader Western Australia Iron Ore (WAIO) operations and the nearby township of Newman. BlackRock Buys Nearly Half BHP has sold a near-half stake in this power system to US investment firm BlackRock’s Global Infrastructure Partners division in a deal worth $3 billion (AUD equivalent). Despite the sale, BHP retains operational control of the network. The new structure means BHP will pay an agreed tariff for the electricity it uses over a 25-year period. Freeing Up Capital for Growth BHP says the move allows it to recycle capital from long-life infrastructure into higher-return opportunities across its iron-ore business. Industry analysts note the deal is aimed at improving capital efficiency while maintaining stable power supply to essential mining operations. Why It Matters Power reliability is core to Pilbara iron-ore production, and the deal does not affect existing agreements with traditional owners, the WA Government, or local communities. With global iron-ore competitors tightening costs and new supply emerging, BHP is positioning itself to maintain long-term productivity and financial flexibility. What Happens Next The agreement is subject to approval from the Foreign Investment Review Board (FIRB), but no operational changes are expected. BHP has reiterated its medium-term goal of lifting Pilbara iron-ore output toward 305 million tonnes per year. — ASX:BHP| ASX Mining News & Discussion