BHP reports higher half-year copper earnings; revises volume growth down for the year

BHP has revised its copper equivalent volume growth to 6% for the 2018 financial year from 7% previously, due to lower volumes now expected at Broadmeadow and Blackwater mines.

The mining giant’s underlying earnings before interest, taxes, depreciation and amortization (Ebitda) for its copper business surged by $1.5 billion or 85% in the half year ended December 31, 2017, to $3.22 billion, the Australia-based miner said on Tuesday February 20.
Revenue from BHP’s copper business in the first half of 2018 totaled $6.38 billion, up 51.6% from $4.21 billion year on year.

BHP attributed it to favorable economic movements, with copper prices rising over the December half-year due to “solid global consumption underpinned by continued strength in China, in particular from...

Published

Karen Ng

February 20, 2018

11:52 GMT

Singapore