Olympic Dam output up despite loss Darryl Cuzzubbo BHP Billiton president for South Australia and Asset president Olympic Dam in Adelaide. PROFIT from the Olympic Dam mine was hit by lower prices for minerals as well as geological and operational factors in the 2012-13 year. BHP Billiton's annual report shows the mine recorded a loss of $US4 million in underlying earnings before interest and tax in the financial year. This contrasts with a profit of $214 million in the previous financial year. BHP processed ore of lower grade during the year and the smelter underwent maintenance. The company did still inject $225 million into capital expenditure during the year. Recent production has improved, particularly in the volume of ore mined. Olympic Dam asset president Darryl Cuzzubbo has said the principal haulage route out of the mine - the Clark shaft which was the site of a major accident in 2009 - is fully repaired and "doing wonderfully." "The Clark shaft was instrumental in getting record production from the mine last quarter," he said. Revenue from Olympic Dam totalled $US1.87 billion, down from $US2.15 billion the year before. Profit before interest, tax, depreciation and amortisation was $US245 million. However, depreciation exceeded this figure, leading to the narrow loss. This was in addition to the impairment of $US242 million caused by the change in status as the mine expansion plan was sent back to the definition phase. BHP Billiton will still pay royalties to the State Government because royalties are based on the value of minerals sold, not the profit or loss made by the company.