Mining firm BHP first-half profits beats estimates, triggers talk of M&A

BHP Group announced a record dividend payout after reporting an estimate-beating first-half profits on Tuesday, helped by higher commodity prices, despite a cutback in demand from top metals consumer China.

The miner has had a busy six months marked by sweeping changes, including selling its $13-billion petroleum business and a listing unification, while managing pandemic-related disruptions to its business.

Iron ore prices, however, have halved from last year's record levels as China's push to curb emissions and easing construction activity in the country's debt-laden property sector curtailed demand.

Commodity price volatility will continue for some time, including for iron ore,