BHP Billiton Posts Fiscal Results, Helped by Ekati Production

Diversified miner BHP Billiton reports good fiscal year results, buoyed among other by a 9.9 percent increase in diamond sales and record throughput at the Ekati plant.

The miner reported a 9.2 percent increase in EBITDA to $5.129 billion from continuing operations, and an attributable profit of $1.920 billion impacted by adverse movements in exchange rates compared with the corresponding period.

EBIT was $3,481 million compared with $3,102 million in the corresponding period, an increase of 12.2 percent.

As the company reported that production for all major mineral commodities was higher or in line with last year, diamonds seem to be an increasing source for revenue, posting record plant throughput at Ekati diamonds, reflecting benefits of Operating Excellence programs.

Diamonds and Specialty Products contributed EBIT of $299 million, up from $272 million, an increase of 9.9 percent compared with the corresponding period.

However production alone was not the only contributor to the Ekati EBIT, as the company credited lower costs, mainly resulting from processing efficiencies.