BHP beats production expectations; warns of $650m Samarco charge

Diversified giant BHP on Wednesday announced that the company had met or exceeded the production expectations for its commodities during the 2018 financial year, but warned of a $650-million financial impact related to the Samarco dam failure, in Brazil.

“We have delivered a strong finish to the 2018 financial year, with an 8% increase in annual production and record output at Western Australian iron-ore, Queensland coal and our Spence copper mine, in Chile,” said BHP CEO Andrew Mackenzie.