BHP Group Limited has released its half-year results for the period ending 31 December 2023, reporting an underlying attributable profit of US$6.6 billion. The company also declared an interim dividend of 72 US cents per share, totaling US$3.6 billion, with a payout ratio of 56%. Notably, BHP remains the lowest cost major producer globally at its Western Australia Iron Ore operations and achieved record production levels in copper at its operations in South Australia and Chile. Additionally, the company has sanctioned Jansen Stage 2 in Canada, which is expected to nearly double its planned potash production capacity.
Huw Mackay, BHP's Vice President of Market Analysis and Economics, provided insights into the economic and commodity outlook. The company is closely monitoring global trends, including iron ore supply, copper demand, and power prices, to adapt to the changing landscape. BHP's consolidated copper province in South Australia has demonstrated strong performance, and the company is actively pursuing future growth options in the region.
Overall, BHP's half-year results reflect robust financial performance and operational achievements across its key mining operations. The company's strategic focus on cost efficiency and production optimization has positioned it as a leading player in the global mining industry.