At Bank of America Merrill Lynch's Global Metal Mining and Steel Conference in Miami, BHP Limited (ASX: BHP) Chief Executive Officer, Andrew MacKenzie, said that the company has its eyes on some small and large growth opportunities that could add US$31 billion of value to the company. The company revealed that it had reduced its net debt into its target range of US$10 billion to US$15 billion. As the company's plans are delivering, future free cash flow will also find its way back to shareholders.
Speaking at the conference, Mr Mackenzie said: "We have maximised operating cash flow as we have lowered costs through productivity; we have been disciplined and transparent in capital allocation; and we have identified new options to increase value and returns."
Critical messages were reaffirmed include maximising cash flow, capital discipline and increasing value and returns to shareholders.
BHP's share price is up 42% in a year and is trading on a forward price-earnings-ratio of 15x.
