Miner BHP doubles annual net profit, pays record dividend

SYDNEY, Aug 20 (AFP): BHP, the world's biggest miner, more than doubled its annual net profit Tuesday on the back of higher iron ore prices and a rebound from significant setbacks the previous year.

The resources giant posted a US$8.3 billion profit for the year to June 30, up from US$3.7 billion in the previous year when heavy impairment charges related to the sale of its US shale assets and costs associated with the Samarco disaster in Brazil dented its results.

Underlying profit - its preferred measure, which strips out one-off costs and is more closely watched by the market - rose just 2.0 per cent to US$9.4 billion, due to strong commodity prices and increased production.