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BHP profit falls 86% from nickel, Brazil dam disaster

BHP continues to rack up losses relating to the deadly Samacro dam disaster.

The Samarco dam disaster in Brazil. Photo: Rogerio Alves TV Senado.

Dan Purves Tue, 20 Feb 2024
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.

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.

The interim dividend has also been slashed by

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Dan Purves Tue, 20 Feb 2024
Contact the Writer: dpurves@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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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.
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BHP profit falls 86% from nickel, Brazil dam disaster
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