The full-year results release from mining giant BHP Billiton is in the diary for Wednesday.
The company announced its full-year production report in July, saying that annual output in the year to June 30th 2012 reached records across ten operations. More specifically, it was the group's 12th consecutive annual production record in iron ore.
However, rising costs and lower commodities prices are expected to see the company report a pre-tax profit of just $25.8bn, down from $31.3bn previously, according to consensus estimates. Revenues are expected to be slightly higher than last year's $71.7bn.
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Meanwhile, the miner announced a few weeks ago that it will have to take an eye-watering hit of $2.84bn in its results on a project in Fayetteville, Arkansas, after falls in the price of domestic gas in the US. To make matters worse, BHP said it also had to take a $450m impairment on its Nickel West site in Australia, bringing the total impairments in the full year results to $3.29bn.
Marius Kloppers, BHP's Chief Executive, and the head of the Petroleum division, Mike Yeagar, "advised the remuneration committee that they do not wish to be considered for a bonus for the 2012 financial year," the firm revealed.
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