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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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.
