BHP is expected to generate a further $US47bn in free cashflow
Kloppers promised than the results he will release next week will
think stand testament to the "prodigious cashflows" BHP will continue to produce. Last year, despite the pressure of GFC, BHP committed $10.6bn to capital investment and exploration.
It has pretty much matched that investment through this year and analysts estimate it will spend a further $US14bn over the next two years. All of that investment has been funded by cashflow.
Over that same three-year period, FY10-FY12, BHP is expected to generate a further $US47bn in free cashflow. After covering dividend payments expected to total, say nearly $US16bn, BHP will be left sitting on something near $US33bn in free cash.The company has continued, at the same time, to reduce debt.
It is estimated that net debt will sit at $US9bn an the end of FY10 and that, without investment in acquisition or buybacks, the company would be debt-free sometime in FY11.Over two sessions on Wednesday evening, Kloppers illuminated the dimensions of the dilemma created by a looming flood of cash and the surging power of BHP's balance sheet.
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