Commodities
Mining Giant BHP Sees Nickel Pain Lingering as Net Income Slumps
- Miner says all its assets on track to meet full-year targets
- China, India likely ‘to remain relative sources of stability’
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BHP Group Ltd.’s first-half net income slumped 86% from the year before, after oversupply in the nickel market forced the world’s biggest miner to write down the value of key assets.
The company announced last week it would take a $2.5 billion impairment on the value of its Australian nickel assets, which could be mothballed later this year following a review.