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BHP Reports Strong Demand Despite Falling Mineral Prices

Australian mining giant BHP saw its net profit multiply fivefold, reaching $4.4 billion, despite an 8% drop in revenue. Sustained demand and signs of recovery in China strengthen its outlook.

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Australian mining giant BHP reports strong demand for its products despite an uncertain economic environment and pressure on commodity prices. Its net profit for the first half of its fiscal year, between July and December, was multiplied by five, reaching $4.4 billion.

Revenue Declines, but Sales Volumes Increase

Despite this surge in net profit, the company’s revenue dropped by 8% year-on-year to $25.2 billion. This decline is mainly attributed to falling prices for iron ore and metallurgical coal, which weighed on overall results. However, BHP partially offset this trend by increasing sales volumes of its key resources, including copper, coal, and iron ore.

China as a Demand Driver

BHP CEO Mike Henry highlighted that demand for the company’s products remained strong, driven by “early signs of recovery” in China. The Chinese economy, despite facing trade uncertainties, remains a crucial market for BHP’s extracted resources.

Beyond China, the U.S. is showing economic resilience, while India continues to experience strong growth, further supporting demand for metals and minerals. According to Mike Henry, this trend aligns with long-term expectations linked to the global population growth projected by 2050 and the increasing need for materials to support the energy transition.

Supporting Factors and Macroeconomic Uncertainties

The commodities market remains influenced by several external factors. The rise of data centers and artificial intelligence is boosting demand for strategic metals, presenting positive prospects for mining companies.

However, macroeconomic uncertainties, particularly the impact of trade policies and inflation in the U.S. and its economic partners, pose a risk to the sector. BHP is closely monitoring these developments to adjust its strategy accordingly.

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