Copper outshines iron ore in BHP's bumper half year profit | The Business | ABC NEWS скачать в хорошем качестве

Copper outshines iron ore in BHP's bumper half year profit | The Business | ABC NEWS

The "Big Australian" was among the big standouts on the ASX200 on Tuesday as BHP revealed copper has replaced iron ore as the star performer in its portfolio. It also announced $6B AUD silver streaming deal with Wheaton Precious Metals. BHP's net profit for HY26 rose by 28 per cent to just under $8B AUD. Its revenue grew by 11 per cent to more than $39B. Shareholders will receive an increased interim dividend of $1.03 per share. Barrenjoey's founding partner and head of research, Glyn Lawcock joined ABC TV's Kirsten Aiken to discuss BHP's results. "I think definitely copper is showing itself to be one of those commodities that for the next 10 to 20 years is definitely going to be in demand from energy transition. It's a scarce commodity. It's hard to find. It's expensive to mine. And definitely it's the one commodity that not just the equity market, but the corporates are chasing as well," he said. While iron ore remains a major part of BHP's portfolio, Glyn Lawcock says there's no doubt the best years of iron ore are in the past and demand is likely flatlining. As a consequence, he said, BHP is finding it a tougher environment to negotiate forward orders with the China Mineral Resources Group. #ABCBusiness Subscribe: http://ab.co/1svxLVE ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: https://ab.co/2kxYCZY Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2 Like ABC NEWS on Facebook:   / abcnews.au   Follow ABC NEWS on Instagram:   / abcnews_au   Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia