9,347.17 TL BIST 100 BIST 100
31.01 $ USD USD
€33.67 EUR EUR
4.34 CNY CNY CNY
0.13 CNY CNY/EUR CNY/EUR
43.42 TL Interest Interest
83.25 $ Fossil Oil Fossil Oil
22.62 $ Silver Silver
3.88 $ Copper Copper
121.11 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,023.50 TL Gold (gr) Gold (gr)

BHP Group reports drop in first-half profit

BHP has reported a 32% drop in first-half profit due to lower iron ore prices.

BHP Group reports drop in first-half profit

BHP Group reported a 32.1% drop in first-half profit on Tuesday as strict zero-tolerance policies towards the coronavirus in China, the world's largest consumer, put pressure on iron ore prices and rising inflation increased production costs.

Miners have struggled with rising costs and a tight labor market amid a sharp drop in iron ore prices in the second half of 2022. However, the Melbourne-based miner is seeing increased demand for its steel products from China as the world's second-largest economy eases coronavirus-related restrictions and bails out its struggling property sector.

The world's largest mining company said core income attributable to continuing operations was $6.60 billion in the six months ended December 31, compared to $9.72 billion a year earlier. That falls short of Vuma Financial's $6.82 billion estimate.

BHP, which offered to buy copper and gold producer OZ Minerals Ltd for $9.6 billion in November, announced an interim dividend of $0.90 per share, up from $1.50 per share announced the previous year.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Sackers Metal Processing Ltd is ready to cooperate with Uzbekistan

Friday, February 23, 2024

Gerdau says it may accelerate downsizing in Brazil

Friday, February 23, 2024

Mechel JSC announced the results of 2023

Friday, February 23, 2024

Japan's January stcrude steel production surged

Friday, February 23, 2024

Tata Steel withdraws merger plan with TRF

Friday, February 23, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now