Mining giant BHP publishes fatal results

The world's largest mining company BHP Billiton suffered multibillion-dollar losses in the previous fiscal year ended June 30. The company painfully suffered the decline in raw material prices.

CEO Andrew McKenzie said: “The past 12 months have been a big challenge for the company. However, our results indicate that our immune system is still strong. The steps we have taken have resulted in lower costs. ” He also highlighted good cash flow in his company.

Nonetheless, the tycoon's past fiscal year has undoubtedly been a difficult one. The company posted an operating loss of $ 6.2 billion and posted a profit of $ 8.67 billion a year earlier. The total loss was $ 6.35 billion, up from $ 1.91 billion a year earlier.

According to experts, the results are not a surprise, because the company suffered from the fall in commodity prices in the same way as almost all companies in the industry.

The company is headquartered in Melbourne, Australia with a workforce of around 30,000. The company produces iron ore, coal, oil, copper, gas, as well as nickel and many other raw materials.