Business
Adelaide-based oil and gas companies Beach Energy and Cooper Energy have reported massive drops in profits for the first half of the financial year, citing low prices and investments in new projects for their lacklustre performances.
News
BHP has scrapped its proposed $3.7 billion Brownfields Expansion at Olympic Dam in favour of a number of smaller projects to improve reliability and increase capacity.
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Strong gold prices matched by higher volumes has helped Adelaide-based miner Oz Minerals record a net profit after tax of $80 million for the six months to June 30.
Increased copper production at Olympic Dam has helped mining giant BHP boost its global production for the 2020 financial year.
South Australia’s mining sector is well placed to play a crucial role in helping the state’s economy recover from the COVID-19 crisis.
BHP has announced a A$7.3 billion attributable profit for the first half of the 2020 financial year, up 29 per cent on the same period last year, netting shareholders the second highest dividend in the company’s history.
