"In the short-term perspective, we expect volatility on the global commodity market, with a China where the recovery is uneven in different sectors," said BHP CEO Mike Henry when the company submitted its report for the year up to the last June this year.
Revenues increased by three percent to 55.7 billion US dollars, thanks to high production and high iron ore prices during the financial year.
However, profit after tax decreased by 39 percent, to nearly 8 billion US dollars. Major impact had costs related to a dam collapse in Brazil in 2015 and the suspension of nickel extraction in western Australia due to overproduction.
The Australian government recently warned that the now decreased iron ore prices may have an impact on the country's budget. Iron ore is Australia's most valuable export commodity, and China is a very important export market for the ore.
