Australian mining company BHP Billiton has announced its financial results for the year ended June 30 this year.
According to the company's financial statement, BHP Billiton posted a net profit of US$10.9 billion for the financial year 2012-13, down 29.5 percent from US$15.41 billion in the previous year, due to weaker commodity prices. In the given year, the company's revenue decreased by 8.7 percent year on year to US$65.97 billion.
According to BHP Billiton, Western Australia iron ore production is expected to increase by 10 percent to approximately 207 million mt in the current financial year 2013-14. Total iron ore production for the given financial year, which includes Samarco production, is forecast to increase by 11 percent to 188 million mt.
In the current financial year, BHP Billiton expects the capital and exploration expenditure to decline to US$16.2 billion.