BHP boss’ pay cut by almost 25% after worker’s death, runaway train – by Cecilia Jamasmie (Mining.com – September 18, 2019)

https://www.mining.com/

BHP’s chief executive, Andrew Mackenzie, saw his annual pay shrink by almost a quarter after an unexplained death at one of the company’s Queensland mines and a runaway iron ore train cost him a portion of his short-term bonus.

Mackenzie, 62, had his short-term bonus reduced by more than $1 million from 2018 to $1.3 million. His base salary was kept at $1.7 million, taking his total earnings, including other benefits, to $3.5 million, from $4.6 million in 2018.

According to BHP’s 2019 annual report, the death of a 49-year-old worker at its Saraji coal mine on New Year’s Eve last year, the cause of which it was unable to determine, was the main reason for the pay-cut. It was the first time in more than 15 years that the company had failed to pinpoint the cause of a fatal accident, BHP said.

The forced derailment of a fully-laden iron ore train in the Pilbara, which destroyed two locomotives, 245 cars and 2 km (1.2 miles) of track, also weighed on Mackenzie’s bonus size.

Other issues mentioned in the report were equipment failures at BHP’s Olympic Dam in South Australia and Escondida mines in Chile.

For the rest of this article: https://www.mining.com/bhp-boss-pay-cut-by-almost-25-after-workers-death-runaway-train/

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