Deterra Royalties
Jason Clifton serves as the Chief Financial Officer at Deterra Royalties since December 2023, bringing extensive financial leadership experience from previous roles, including CFO at Australian Strategic Materials from July 2021 to October 2023 and Senior Vice President Finance at Woodside Energy from September 2018 to July 2021. Jason Clifton has also held notable positions such as CFO at Westpac New Zealand Limited and Sovereign, and Executive General Manager at Bankwest. Early career roles include various finance leadership positions at Commonwealth Bank and pieNETWORKS Ltd, along with Corporate Finance Executive at Robert Walters and Corporate Finance Manager at Kimberley Diamond Company. Educational qualifications include a Bachelor of Commerce from the University of Western Australia and fellowships at the Australian Institute of Chartered Accountants and the Financial Services Institute of Australia.
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Deterra Royalties
Royalty companies provide investors with exposure to the value created through the discovery, extraction and sale of natural resources, typically without full exposure to some of the key operating risks of mining businesses. Ownership of the MAC Royalty gives Deterra Royalties exposure to one of the premier iron ore mines globally as measured by scale, cost position, credibility of the operator and remaining asset life. BHP operated MAC is a long-life, high-grade and low-cost asset forming part of BHP’s integrated Western Australia Iron Ore Operations. BHP’s South Flank project will increase production from the MAC Royalty area significantly in the coming years. In addition to the cornerstone MAC Royalty, Deterra will seek to build a portfolio of royalty interests focusing on earnings growth and diversification by making complementary and value accretive investments. Key objectives of this strategy are to achieve multiple sources of earnings growth, exposure to mine life extensions and production increases, greater cash flow resilience and lower risk through portfolio diversification. Deterra maintains a disciplined approach to investment and capital allocation, leveraging its scalable cost structure - limited incremental operating costs are expected to be required for new investments. Deterra Royalties intends to maintain a conservative balance sheet, in line with international peers, and a disciplined funding model that focuses on consistent cash returns to shareholders. Deterra’s dividend policy is to return 100% of NPAT to shareholders, franked to the extent possible (subject to Board discretion).