Miner BHP Billiton posts $6.4 billion loss for 2015-16

Published August 16, 2016

FILE - In this July 2, 2014 file photo, smoke billows out of a chimney stack of BHP steelwork factories at Port Kembla, south of Sydney, Australia. The world's biggest miner, BHP Billiton, on Tuesday, Aug. 16, 2016, reported a $6.4 billion loss, the worst full-year result in the Anglo-Australian company's history. BHP said the result for the fiscal year ending June 30 came from a 31 percent fall in revenue to $30.1 billion amid weak commodity prices, write downs of U.S. oil and gas assets and a disaster at a Brazilian mining joint venture. (AP Photo/Rob Griffith, File) (The Associated Press)

The world's biggest miner BHP Billiton has posted a $6.4 billion loss, the worst full-year result in the Anglo-Australian company's history.

BHP on Tuesday said the result for the fiscal year ending June 30 came from a 31 percent fall in revenue to $30.1 billion amid weak commodity prices.

BHP posted a $1.9 billion profit for the previous year, which was 14 percent of the $13.8 billion posted in 2013-14.

The latest result is the worst since the company headquartered in Melbourne, Australia, was formed in 2001 through the merger of two corporations founded in the 19th century — Australia's Broken Hill Proprietary Co. Ltd. and London-listed Billiton Plc.

Its best result was profits of $23.6 billion in 2010-11.

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