SYDNEY: BHP reported a return to profit Tuesday as strong commodity prices helped it bounce back from a large loss last year, with the mining giant also flagging the sale of its US shale assets. The world’s largest miner recorded an annual net profit of $5.89 billion for the year to June 30, just short of forecasts, after a $6.39 billion loss in the previous period. “Over the last five years, we have laid the foundations to significantly improve our return on capital and grow long-term shareholder value,” outgoing BHP chairman Jac Nasser said. Underlying profit, which strips out one-off writedowns, was also below forecasts at $6.73 billion. The Anglo-Australian firm rewarded shareholders with a final dividend of 43 cents, well up from 14 cents last year. BHP said it had determined its onshore US shale operations were “non-core” to the business and it was “actively pursuing options to exit these assets for value”. Published in Daily Times, August 23rd 2017.