Commodities Buzz: Mining Giant BHP Reports a 34% Rise In Profit From Operations In Year Ending June 2022

16 Aug 2022 , 02:31 PM

Global mining giant BHP Group has reported a 34% rise in profit from operations in the year ending June 2022. Profit from operations climbed to $34.1bn from $25.5bn year-on-year, due to strong underlying operational performance, and increased higher coal and copper prices. The mining giants attributable profit for the 2022 financial year stood at $30.90bn, a 173% increase compared with $11.3bn a year ago. The profit was partially offset by $428m in corporate structure unification costs, and the impact of the Samarco dam failure of $1.1bn, among others. Underlying attributable profit for total operations in the 12 months to June 2022 increased by 39% to $23.8bn, compared with $17.07bn year-on-year.Powered by Commodity Insights