BHP slips on weaker profit

FY profit short of analyst expectations, mining giant announces $2.6bn investment in controversial Jansen potash project.

Lower commodity prices have cut profits for BHP Billiton Ltd for the second straight year to $US10.87 billion, as the miner announced it would invest $US2.6 billion in its controversial Jansen potash project.

Investors were disappointed with the news, sending the stock 1.59% lower to $35.96 at 1015 AEST, against a slight benchmark rise of 0.02%.

The miner said increased supply was likely to put downward pressure on commodity prices in the short term.

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