BHP Billiton Reports a $6.4 Billion Record Loss—But There’s Good News

BHP Billiton bhplf reported a record $6.4 billion annual loss on Tuesday, hammered by a bad bet on shale, a dam disaster in Brazil, and a commodities slump, but said it expects its cash flow to more than double this year.

The world’s biggest mining company said with cost cuts and a reduction in net debt it expects to generate more than $7 billion in free cash flow in the year to June 2017, at current prices for iron ore, copper, coal, oil and gas.

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