DHAKA: Mining giant BHP Billiton has reported a record loss for the past year following a mining disaster in Brazil and a slump in commodity prices.

The Anglo-Australian commodities firm reported an annual net loss of $6.4bn for the year to 30 June, reports the BBC.

The global mining sector has seen years of weak demand attributed largely to slowing growth in China.

BHP results were also hit by costs after the Samarco mining disaster in Brazil, which killed 19 people.

The record losses come after the company had reported a $1.9bn net profit.

“While commodity prices are expected to remain low and volatile in the short to medium term, we are confident in the long-term outlook for our commodities, particularly oil and copper,” chief executive Andrew Mackenzie said in a statement.

Underlying earnings for the past year, which strip out one-off costs, came in at $1.22bn.

BDST: 1609 HRS, AUG 16, 2016
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