BHP cuts full-year iron forecast after deadly Brazil spill

Melbourne

BHP Billiton Ltd, the world's biggest mining company, trimmed its full-year iron ore forecast after its Brazil joint venture was halted following a dam breach in November that killed at least 17 people. The shares fell to the lowest level in 11 years in Sydney trading.

Production should be 237 million tonnes in the 12 months to June 30 from a year earlier, compared with its July estimate of 247 million tonnes, Melbourne-based BHP said on Wednesday. Samarco, jointly owned by Vale SA, has been halted since a dam failure that Brazil's government described as the country's worst environmental disaster. Vale last month cut its full-year output guidance by as much as 10 per cent.