Steady cashflow: An man stands in front of a sign for BHP Billiton outside the Perth Convention Centre. The world’s biggest mining company says with cost cuts and a reduction in net debt it expects to generate more than US7bil in free cashflow in the year to June 2017, at current prices for iron ore, copper, coal, oil and gas. — Reuters
MELBOURNE: BHP Billiton reported a record US$6.4bil annual loss, hammered by a bad bet on shale, a dam disaster in Brazil and a commodities slump, but said it expects its cashflow to more than double this year.
The world’s biggest mining company said with cost cuts and a reduction in net debt it expected to generate more than US$7bil in free cashflow in the year to June 2017, at current prices for iron ore, copper, coal, oil and gas.
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