BHP has warned that “potential trade tensions” pose a risk to global economic growth after the world’s largest mining company cut its interim dividend to the lowest level in eight years because of weak Chinese demand.

Australian mining giant BHP Group Limited (BHP) has hit a six-year low in profits, primarily due to falling iron ore prices. The company also

As a result, BHP is offering a $US0.50 per-share dividend, its lowest interim payout since 2017. Despite boosting the amount of iron ore and copper being produced, lower commodity prices pulled BHP’s profits down. Iron ore attracted about per 22 cent less per tonne, while coking coal made about 23 per cent less per tonne.

The iron ore mining giant is instead spending more money on developing new operations, focusing on in-demand commodities like copper and potash.

BHP Group Ltd.’s first-half profit slumped 23% from the year before, with the mining giant impacted by falling Chinese demand for key commodities including iron ore and copper.

The Big Australian's profit decline appears to have spooked some investors. The post BHP shares fall after cutting dividend by 30% appeared first on The Motley Fool Australia.