BHP announces record half-year earnings

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Mining giant BHP released record half-year earnings Tuesday, with profits up 77 percent.

The company also outpaced dividend estimates, delivering a record interim dividend to shareholders of US$1.50 for the third year running.

BHP’s Western Australia iron ore business drove the miner’s $9.4 billion attributable profit, helped along by strong prices for coking coal and copper.

Ahead of the announcement, there had been some speculation that rising costs and lower demand from China would dent the results of the big iron ore miners, including Fortescue, Rio Tinto and BHP. —AFP

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