Key takeaway: Poor market conditions in nickel led to an impairment of US$2.5b and continuing fallout from the deadly Samarco dam disaster meant BHP put another US$3.2b aside to address claims and other expenses, wiping out most of the half-year profits.
Expectational losses totalling US$5.7 billion ($9.28b) – from the failure of Samarco dam, where the disaster killed 19 people, and the bottom dropping out of the nickel market – has dropped BHP’s profit for the half year by 86% to US$900 million.
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
Key points
Revenue: US$27.2 billion.
Profit: US$900 million.
Key takeaway: Poor market conditions in nickel led to an impairment of US$2.5b and continuing fallout from the deadly Samarco dam disaster meant BHP put another US$3.2b aside to address claims and other expenses, wiping out most of the half-year profits.
