Revenues rose 3 per cent at BHP, the world’s largest mining firm, because it mentioned an “uneven restoration” within the Chinese language economic system, sluggish industrial demand and better rates of interest will proceed to trigger volatility in international commodity markets.
The corporate mentioned income for the 12 months to June rose 3 per cent to $55.7bn whereas underlying earnings elevated 4 per cent.
Nonetheless, revenue attributable to shareholders fell 39 per cent as a consequence of a $2.7bn writedown of nickel belongings and a $3.8bn cost associated to a dam collapse in Brazil. The dividend was down 14 per cent over final 12 months.
BHP mentioned it expects Chinese language steelmaking to ease additional this 12 months and demand for iron ore, the important thing ingredient for metal, to be decrease within the medium time period.
