BHP earns underlying earnings for diamonds

According to reports, BHP’s first half attributable profit has reduced by 2.4% to $6.017 billion. Calculating the underlying profits before interest, tax and depreciation increased by 6.4%, on Y-o-Y, reached $11.2 billion, while the first half costs rose by 1.9% due to higher prices for raw materials.

For its trade in diamonds, BHP’s underlying earnings before interest and taxes decreased by or 7.7% to value at $72 million, as compared to last year’s figures. However, the increase in diamond sales volumes and lower unit costs at the Ekati mine in Canada, allowed a relief. The yields at the Ekati mine were good, of higher grade and the underground mining and increased cost efficiencies added to the benefits.