Major bhp's profit has reported a 34% increase in profits for 2022, saying China would be a source of stability in the near future ironore copper nickel coal potash mining resources
PERTH – Diversified miner BHP has reported a 34% increase in profits for the year ended June, along with record underlying earnings before interest, taxes, depreciation and amortisation .
“BHP delivered strong operational performance and disciplined cost control to realise record underlying earnings of $40.6-billion and record free cash flow of $24.3-billion. We have reduced debt and announced a final dividend of $1.75 per share, bringing total cash dividends announced for the full year to a record $3.25 per share,” said CEO“BHP’s total economic contribution including payments to employees, suppliers, communities, governments and shareholders totalled $78.1-billion.
“During the year, we unified BHP’s corporate structure, merged our petroleum business with Woodside, completed the sales of our interests in the BMC and Cerrejón energy coal assets, and decided to retain and operate our New South Wales Energy Coal business until mine closure in 2030. We have improved our platform for growth through the Jansen potash project, iron-ore and copper.
Capital and exploration expenditure reached $6.1-billion in the 2022 financial year, which was lower than guidance of $6.5-billion primarily owing to favourable exchange rate movements. This included maintenance expenditure of $2.8-billion and exploration of $256-million.
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