What are the most immediate operational challenges facing BHP's new CEO Craig as he starts on July 1?

The most immediate operational challenges facing BHP's new CEO Craig include threatened iron ore strikes in Australia's Port Hedland operations—where unions are escalating tensions and threatening coordinated industrial action for the first time in decades if talks on July 7 fail—as well as ballooning costs and project overruns, notably a $2.3 billion charge linked to delays and cost overruns at the Jansen Stage 2 project, which was under Craig's purview as head of Americas.

How does the article characterize BHP's near-term stance on mergers and acquisitions under CEO Craig?

The article states that Craig is not expected to immediately pursue major M&A, unlike his predecessor Mike Henry; however, opportunities could still arise, particularly given BHP's valuation premium and the potential future appeal of the merged Anglo American–Teck Resources entity, depending on valuations—though BHP has maintained a focus on organic growth and has declined to comment on M&A speculation.