BHP: A (mostly) reliable mining giant – The Wall Street Journal

DUBLIN — The mining industry is notoriously cyclical, and many mining companies – especially the small ones – are prone to big busts. Against this background, BHP usually stands out as an island of calm. The company chooses to operate primarily in the safer parts of the world and focuses on steady growth, reliable profit, and positive cash flows. In keeping with this reputation, BHP recently posted strong first-half numbers – it reported a best-ever first-half profit of $3.76bn. Of course, even the most reliable company has its ups and downs. Its profit would have been even higher were it not for issues ranging from train derailments to US tax problems. And looking ahead, the company has warned that ongoing global trade troubles will weigh on its ability to deliver growth. Still, there's a lot to like in the BHP results, even if the future doesn't look as bright as it once did. – Felicity Duncan

BHP: Everybody Hurts Sometimes

By Nathaniel Taplin

BHP, the world's largest miner, has long prided itself on its reliability in an industry characterised by big bets in exotic – and often unstable – locales. Problems are to be expected when companies operate in places like the Democratic Republic of Congo and Mongolia. But when things go wrong in Australia , BHP's heartland, investors are justified in asking some tough questions.

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