BHP has warned that “potential trade tensions” pose a risk to global economic growth after the world’s largest mining company cut its interim dividend to the lowest level for eight years because of weak Chinese demand.
The Australian company reported an 8 per cent decline in revenue to $25.2bn in the six months to the end of December as a result of lower prices for commodities, including iron ore and steelmaking coal.
The company’s profit before tax increased to $8.7bn from $4bn but its underlying attributable profit declined 23 per cent to $5.1bn — its lowest since 2020 — due to lower revenue and exceptional losses related to legal settlements and the closure of its nickel operations.
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