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BHP warns on nickel but interim profits climb

The Big Australian is balancing volatile commodity markets with a need for decisions on new mine investments
February 20, 2024
  • Rebound from weaker 2023 first-half on copper and iron ore prices
  • Interim dividend of 72¢, down a fifth

Weak nickel prices have put a speed bump in major miners’ narratives about the shift to ‘transition metals’ providing the next few decades of profits. BHP (BHP) took a $2.5bn (£2bn) hit in its interim results on the value of its Australian nickel holdings, while chief executive Mike Henry said the company would consider suspending production at the Nickel West mine in the coming months. 

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