BHP Billiton profits slide on weaker commodity prices

Aug 20, 2013 | 11:15 AM | Shivani Singh

Tags  BHP Billiton, capital expenditures, Andrew Mackenzie, nickel, copper, aluminum, iron ore, metallurgical coal Shivani Singh

SINGAPORE — BHP Billiton Ltd. cited slowing global growth and volatile commodity markets for a slump in its fiscal-year earnings.

The world’s largest miner posted attributable profit of $10.88 billion for the 12 months ended June 30, down 29.5 percent from $15.42 billion the previous fiscal year on revenue that fell 8.7 percent to $65.97 billion.

Weaker commodity prices hurt earnings by $8.9 billion, and the company took exceptional charges of $922 million, including impairment charges related to its Nickel West and Worsley assets in Australia. ....

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