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BHP Billiton Records Worst Loss in Fiscal Year 2016

Miner BHP Billiton (BHP) has announced a loss of $6.4 billion for fiscal year 2016 ended June 30.

The low price of iron ore and oil have impacted the company but it said is confident in the long-term outlook for commodities.

The loss was worse than analysts' expectations of $5.8 billion.

The Anglo-Australian miner's loss was driven by $8 billion worth of exceptional items, including closures across the business, impairments in its coal unit and a $1.2 billion provision for the collapse of the Samarco dam in...