SYDNEY: BHP Billiton chief executive Andrew Mackenzie’s annual salary was cut in half following the Samarco dam disaster in Brazil that claimed 19 lives and caused widespread environmental damage, the global miner said. Mackenzie was paid US$2.24 million in the 2016 fiscal year, down from US$4.58 million the previous year. While his base salary was maintained at US$1.7 million, he did not receive any short- or long-term incentive payments, according to BHP’s annual report. “The dam failure at Samarco was a key consideration, along with the ongoing decline in commodity markets and its associated impact on our performance,” BHP said in the report. For the year to the end of June, BHP reported a record US$6.4 billion net loss.

Source: New Strait Times September 21, 2016 02:07 UTC