BHP Billiton first-half profit dips 5.5%

SYDNEY (MarketWatch)
Mining giant BHP Billiton Ltd. said Wednesday that its first-half attributable profit fell 5.5% to $9.9 billion
Revenue rose 9.7% to $37.5 billion in the six months to Dec. 31
BHP said that iron ore production reached a record in Western Australia and bulk commodity and petroleum product prices increased in the period
However, it also saw operational challenges in the period, including a temporary reduction in production at Escondida in Chile and Queensland coal operations in Australia, which it said exacerbated underlying cost pressures
BHP said that it expects volatility in commodity markets to persist