BHP Billiton shares fall to lowest point in decade after announcing write-downs

Mining company to produce 10m tonnes below original target in 2016 financial year after suspension of operations at Samarco joint venture mine in Brazil

Shares in BHP Billiton have suffered more losses after the company was forced to write down nearly US$1bn (A$1.4bn) and cut its target for iron ore production amid falling prices.

The Anglo-Australian mining company said on Wednesday that its first-half results will include write-downs worth US$911m relating to redundancies and closures, as well as a revaluation of its copper business.