****** ****** BHP Billiton announces massive losses as demand for commodities slump Today is Tuesday 23rd February 2016 and we are commenting very briefly on the results just announced for BHP Billiton. Mining giant BHP Billiton has posted a substantial half-year net loss of $5.67bn (£4bn). The figure for the six months to December compared with a profit of $5.35bn for the same period in 2014. BHP Billiton is one of the world's largest producers of major ajor commodities including iron ore, metallurgical coal, copper and uranium, and has substantial interests in both conventional and shale oil and gas and energy coal. Lower commodity prices slashed revenue by 37% to $15.7bn, sending underlying profit down 92% to $412m and the company has warned that weak commodity prices will continue. Dividend payments to shareholders, were reduced from 62 cents a share to just 16 cents. Chairman Jac Nasser said BHP now believed the period of weaker prices and higher volatility would be prolonged. The decision to cut the dividend had not been made lightly but was a "determined response to changing markets", he said. Mining companies such as BHP have been under intense pressure as a slowdown in China's economy results in lower demand for key commodities, such as iron ore and coal. Why is this relevant you may ask? Well if anyone was in the slightest bit doubtful that Chinese demand for such products was not seriously lower or that world Industrial Growth is not in serious jeopardy, well here is just another landmark to suggest that they are. Naturally you can draw your own conclusions as to what this may mean for precious metals, but certainly for industrial metals 2016 is certainly not looking very bright. Please view our recent videos: HSBC Profits Falter due to Chinese Economic Slowdown ****** Gold & Silver Price Forecast for 2016 Delayed due to New Information ****** Gold and Silver Update w/e 19th February 2016 - by illuminati silver ****** Gold and Silver Price Forecast 2016 by illuminati silver (part 2 of 3) ****** Illuminati Silver reaches 5,000 You Tube Subscribers ****** US Federal Reserve considered changing course on raising rates in 2016 ****** Chinese Bank - Bank of Liuzhou - hit by $4.9 bn Loan Fraud ****** Trump not a serious contender for President according to Obama. ****** Gold and Silver Price Forecast 2016 by illuminati silver (part 1 of 3) ****** Markets sent Crashing by Secret Russia and Saudi Arabia Oil Deal. ****** Japans economy contracts by 1.4% for 2015 ****** Why China has been selling US Dollars ****** Gold and Silver Update w/e 12th February 2016 - by illuminati silver ****** ABX launches today - improving transparency and price discovery in the Precious Metals Market ****** Janet Yellens Statement today proves Fed is more Dovish than Hawkish ******