The era of super dividends paid by the ASX’s mining giants is coming to an end, as iron ore earnings come up against cyclical challenges, and Australia’s largest companies back new investments in future-facing commodities.

The ASX’s biggest name, BHP Group, slashed its interim dividend by 40 per cent on Tuesday to US90¢ as profits slumped. Rival Fortescue Metals similarly scaled back its dividend last week ahead of rising spending.