BHP and the Mining Growth Dilemma
Higher costs are still hobbling the world’s diggers, but BHP’s earnings show hints of a shift.
Miners’ bottom lines may be turning the corner.
Photographer: Ian Waldie/BloombergHello and welcome to Elements, our daily energy and commodities newsletter. Today, Bloomberg Opinion’s Clara Ferreira Marques analyzes BHP’s half-year earnings for signals of what lies ahead for the industry. President Vladimir Putin said Russia will suspend its observation of the New START nuclear weapons treaty. If you haven’t yet signed up to get Elements sent to your inbox, you can do that here.
Having spent years appeasing shareholders and repairing balance sheets to atone for past splurges, the mining sector is once again talking up growth. Yet, thanks to high costs and less-shiny profits of late, that’s proving easier to say than do.