BHP Billiton profit dives to 10-year low

MELBOURNE: BHP Billiton reported its worst underlying profit in a decade, gutted by plunging iron ore, copper, coal and oil prices, and said it would cut spending more deeply to shore up dividends.

BHP and its peers have been hit after they hiked output of iron ore, copper and coal just as demand growth slowed in China, the top global metals consumer, and have been slashing costs over the past three years to cope.