Australian mining company BHP Billiton has announced its financial results for the year ended June 30 this year.
Accordingly, BHP Billiton has posted a net loss of US$6.38 billion for the financial year 2015-16, compared to the net profit of US$1.91 billion in the previous year, while the company's revenue decreased by 30.7 percent year on year to US$30.91 billion.
BHP Billiton's Western Australia iron ore production increased by two percent year on year to 257 million mt in the financial year 2015-16, as the Jimblebar mining hub operated at full capacity and utilization at the Newman ore handing plant improved.
BHP Billiton stated that its total iron ore production is forecast to increase to between 228 million mt and 237 million mt in the financial year 2016-17, excluding production from Samarco. Meanwhile, Western Australia iron ore production is predicted to increase to between 265 million mt and 275 million mt in the financial year 2016-17.