BHP (ASX:BHP) looking to divest two Queensland mines

Company News

by Rachael Jones

BHP (ASX:BHP) is looking to divest two of its Queensland metallurgical coal mines as it looks to simplify portfolio to focus on higher quality steel-making products.

They report a net profit of $US7.95 billion for the financial year, down 4 per cent on the previous year, as tumbling oil and coal prices bit into the strong performance from the company’s dominant iron ore division.

BHP declared a US55 cents a share final dividend, marginally below analysts’ expectations, bringing its total shareholder payout for the financial year to $US1.20 a share.

Shares in BHP (ASX:BHP) are trading 0.03 per cent lower at $39.85.