BHP said annual profit fell to the lowest in five years as sluggish demand from China weighed on iron ore prices and flagged a cut in capital and exploration spending but declared a bigger-than-expected final dividend,

BHP has reported a 26% decline in underlying attributable profit to $10.16bn for the financial year 2025 (FY25), which ended on 30 June. This marked the miner’s lowest full-year profit since 2020, according to media reports.

Prices for shipments of Australian iron ore and coal have tumbled on softer demand in China, while Donald Trump’s trade wars continue casting a cloud over the outlook.