BHP Billiton Hit by Nickel

The Sydney Morning Herald reported that based on BHP Billiton’s results presentation on Wednesday, it revealed that the company’s nickel division recorded a loss of $285M, with impairments also contributing to its 58% fall in profit for the first half of 2012-13.

As quoted in the market news:

Further, impairments of $US1.5 billion after tax against the Worsley alumina refinery, and $US865 million against BHP’s Nickel West assets, both in Western Australia, contributed substantially to the 58 per cent fall in attributable profit for the first half of 2012-13, to $US4.2 billion.

Click here to read the full Sydney Morning Herald report.