Source: Sharecast
The board also announced its decision to retain the coal and carbon steel business instead of pursuing a sale.
That decision came after an "overwhelming" majority of shareholders indicated that doing so would boost the company's cash generation capacity to fund opportunities in its transition metals portfolio - including in copper.
The natural resource outfit reported a 9% rise in revenues for the six months ending on 30 June to reach approximately $117.1bn.
Yet adjusted operating profits shrank by a third in EBITDA terms to $6.3bn (UBS: $6.7bn).
The company also swung to a net loss of $233m from a profit of $4.6bn one year before. That was partly the result of $1.7bn of significant items.
Even so, net debt reduced by $1.3bn to $3.6bn.
Chief executive officer Gary Nagle also noted the annualised free cash flow generation of about $6.1bn during the period.
Nagle said that the free cash flow generation figure "augers well for potential top-up shareholder returns, above our base cash distribution, in February 2025."
-- More to follow --
