Australian mining company BHP Billiton has announced its financial results for the financial year 2016-17 ended June 30.
Accordingly, BHP Billiton has posted a net profit of US$5.89 billion for the financial year 2015-16, compared to the net loss of US$6.38 billion in the previous year, while the company's revenue increased by 24 percent year on year to US$38.28 billion.
BHP Billiton's Western Australia iron ore production increased by four percent year on year to 231 million mt in the financial year 2016-17, which reflected strong productivity improvements across the supply chain as well as the commissioning of a new primary crusher and additional conveying capacity at Jimblebar mine.
BHP Billiton stated that its total iron ore production is forecast to increase to between 275 million mt and 280 million mt in the financial year 2017-18, while Western Australia iron ore production is predicted to increase to between 239 million mt and 243 million mt in the same financial year.