BHP Diamond Revenues Up Despite Decline in Production

BHP Billiton ended the fiscal year with a 5.2 percent rise in revenue to $52.8 billion. Diamonds contributed $901 million to BHP’s income, rising 72.3 percent year-over-year.

The multi-commodity miner posted a $465 million earnings before interest and taxes (EBIT) from diamonds, a whapping 688.1 percent increase compared to the $59 million in EBIT posted in the previous year.

The company had previously reported a 5 percent decline in diamond production to 3.05 million carats in the fiscal year ended June 30 due to lower grade ore.

In other commodities, BHP Billiton reported record sales of iron ore, metallurgical coal and petroleum.