RIYADH: Global mining giant BHP Group will payout a record $7.6 billion in half-year dividends fueled by rising commodity prices and stronger operations.
This came as profit jumped 57 percent in the second half of 2021, to hit $9.7 billion on higher operational revenue, the Financial Times reported.
These results followed an eventful six months for the miner, in which it shifted its primary stock market listing to Sydney and signed a merger agreement with Australian gas producer Woodside.
On completion of that deal, analysts see the miner’s strategy directed towards growth through providing higher exposure to energy transition metals.
This comes amid BHP’s efforts to adopt a greener portfolio as it seeks to adapt to the drive for low-carbon economies.
A key factor in the miner's favor is that iron ore prices have soared over 60 percent since last November to hit $150 per ton last week, Bloomberg reported.
“The iron ore price will be determined by supply and demand,” the company’s chief executive, Mark Henry, told Bloomberg.
