BHP First-Half Profit Soars on Price Rally to Beat Estimates
- Top miner to buyback $2.5 billion of bonds, boosts dividend
- Copper guidance under review, BHP back in talks on strike: CEO
What's Driving the Rebound in Commodity Prices?
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BHP Billiton Ltd., the world’s biggest mining company, reported first-half profit jumped as commodity prices surged on increased demand from China, moving to capitalize on the rally with a better-than-expected dividend and a bond buyback.
Underlying profit rose to $3.24 billion in the six months through Dec. 31, Melbourne-based BHP said in a statement Tuesday. That compared to $412 million in the same period a year earlier, when miners’ earnings cratered amid a collapse in prices. The result beat the $2.94 billion average estimate among seven analysts surveyed by Bloomberg. The company’s London-traded stock rose 1.8 percent.