TMS Awards 2023Port of South LouisianaBühler GmbHVan AalstGeneva DryPort of Stockton
  • TMS Awards 2023
  • Van Aalst
  • Port of Stockton
  • Bühler GmbH
  • Sailors Society
  • TBA Group

BHP delivers strong results on back of solid operational performance

BHP delivers strong results on back of solid operational performance

(Posted on 27/08/24)

BHP has delivered a strong set of results in FY24 on the back of solid operational performance.

BHP Chief Executive Officer, Mike Henry said, “We delivered record volumes at Western Australia Iron Ore, where we extended our lead as the world’s lowest cost iron ore producer. Across our global copper assets, we grew overall copper volumes by 9% for the second consecutive year and expect to deliver a further 4% in FY25.

As a result of this strong performance, combined with our healthy balance sheet, we determined a final dividend of 74 US cents per share, a 53% payout ratio, continuing our track record of delivering robust shareholder returns through the cycle.

We have a pipeline of copper projects under development in Chile and Australia. At Copper SA we have a strategy to deliver up to 650 ktpa of copper and today we published an Inferred Mineral Resource at Oak Dam for the first time. In July, we strengthened our copper resource position and our early-stage options by agreeing to acquire a 50% interest in the promising Filo del Sol and Josemaria copper projects in Argentina, adding to Resolution in the US and our greenfield exploration efforts. In iron ore, studies on further potential expansions at WAIO to increase our output up to 330 Mtpa will be completed in CY25. Construction of our Jansen potash project in Canada is ahead of the original schedule with first production now just over two years away. We have put our Western Australia Nickel operations into temporary suspension as a result of global oversupply of nickel, while continuing to support our people and communities impacted by this decision.

In January, tragically a colleague was fatally injured at BMA and we continue our relentless effort to eliminate fatalities and operate safely. During FY24, we reached 37% female employee participation across BHP globally, including over 40% in our Minerals Americas business. We increased Indigenous procurement spend to over US$600 m. We have reduced operational greenhouse gas emissions by 32% from our FY20 adjusted baseline and today set out our decarbonisation plans through to 2050 in our second Climate Transition Action Plan.

The longer-term fundamentals that drive demand for our products remain compelling. In the near term, we expect volatility in global commodity markets, with China experiencing an uneven recovery among its end-use sectors. The effectiveness of recently announced pro-growth policies will be an important contributor for the country to achieve its official 5% growth target. India is set to continue as the world’s fastest growing major economy. We anticipate developed economies will face gradual relief from the lingering effects of higher interest rates in coming years.

We are energised to build on the positive momentum achieved this year. Our tier 1 assets, track record of operational performance and strong balance sheet allow us to invest in future growth and maintain strong cash returns to shareholders through the cycle.”

Latest News

SSAB invests $74 Million to expand steel production in Alabama

(Posted on 07/05/25)

Highly-specialised global steel company, SSAB has announced a significant investment of approximately... Read more


GGC welcomes new Canadian government and urges farm priorities action

(Posted on 01/05/25)

Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more


US Soybean growers disappointed in 2;4-D Anti-Dumping and Countervailing Duties vote

(Posted on 30/04/25)

The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more


Ukraine already sown two million hectares of spring grains

(Posted on 28/04/25)

As of April 25, 2025, farmers in all regions of Ukraine have sown 2M hectares (ha) of spring grain and... Read more


Condobolin rail upgrade fast-tracks NSW grain

(Posted on 25/04/25)

GrainCorp’s rail site at Condobolin, in the heart of central west New South Wales, Australia,... Read more


Rio Tinto and AMG assess low-carbon aluminium project in India

(Posted on 22/04/25)

Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have... Read more


BHP record iron ore and copper production demonstrates resilience

(Posted on 22/04/25)

BHP has released its Operational Review for the nine months ended 31 March 2025.BHP Chief Executive... Read more


WTO: Trump’s tariffs will shrink global trade

(Posted on 16/04/25)

The volume of world merchandise trade is expected to decline by 0.2% in 2025 under current conditions... Read more


$235million syndicated loan agreement to boost UAE trade with Trafigura

(Posted on 15/04/25)

In a strategic move to empower UAE exporters and advance the nation’s economic diversification... Read more


Anglo American update on sale of steelmaking coal business to Peabody

(Posted on 15/04/25)

Anglo American plc has noted the recent statement issued by Peabody Energy in relation to the definitive... Read more


Sailors SocietyTBA GroupCimbriaViganTelestack
  • Vigan

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping