BHP has announced a profit of $7.3b, an increase of 29pc, for the half year ending December 31, 2019.
Shareholders received a higher interim dividend with a payout of 97c per share, though it was lower than estimated.
BHP chief executive Mike Henry said that the company was in good shape, though it was keeping an eye on effects from the coronavirus outbreak, trade policy and global political uncertainties.
“We remain convinced by the positive fundamentals of our commodities,” he said.
The company reported that with $5.5b in free cashflow, it was on track to meet full-year production guidance.
Higher iron ore prices and strong performance across operations has had a positive effect on results.
The company expects an increase in global steel production during 2020.
BHP is transitioning towards full renewable power generation at Escondida and Spence copper operations in Chile, which led to a one-off loss of US$318m.
It will be increasing its focus on copper, nickel and potash which they see as future facing commodities.
“These resources will be essential as the world transitions to a lower carbon economy and which will continue to prosper in a decarbonised world,” Mr Henry said.
