BHP said underlying profit for the year to June rose 30% to $13.2bn, beating analysts, as higher commodity prices—notably record-high copper—lifted earnings. Copper revenue exceeded iron ore revenue for the first time. The group declared a final dividend of $0.99 per share, implying a 72% payout ratio. BHP projects global copper demand will rise from about 34 mln tonnes today to 50 mln t by 2050, but said copper output at its Chile operations is falling due to grade decline and ageing mines, for

BHP said underlying profit for the year to June rose 30% to $13.2bn, beating analysts, as higher commodity prices—notably record-high copper—lifted earnings. Copper revenue exceeded iron ore revenue for the first time. The group declared a final dividend of $0.99 per share, implying a 72% payout ratio. BHP projects global copper demand will rise from about 34 mln tonnes today to 50 mln t by 2050, but said copper output at its Chile operations is falling due to grade decline and ageing mines, forcing billions of dollars of sustaining capital to maintain production.