The miner suspended all of its rail operations on Monday after it derailed the iron ore train, damaging 1.5 kilometres of track and crushing numerous 268 fully-laden wagons in the process.
The Australian Transport Safety Bureau said the train traveled for 92 kilometers (57 miles) and then was deliberately derailed at a set of points about 119 kilometers from Port Hedland.
With no one at the controls, the 3km long runaway train travelled for nearly an hour, at speeds of up to 110km/h, before it crashed about 210km south of Port Headland. "We've got no reason why we have to change the contracts and agreements we have with existing customers", he said, following the company' annual general meeting in Adelaide.
The miner said its normal train operations remain suspended, estimating that around 1.5 km of train track were damaged. Nobody was injured in the incident that happened in a remote area around 120 km south of the world's largest iron ore loading terminal in the country's northwest.
Shaw and Partners analyst Peter O'Connor said at a run-rate of 270-280 million tonnes per annum, BHP's Pilbara operations represented around 18% of the global seaborne iron ore trade.
BHP's shares were trading 1.21 percent lower at AUD 33.14 in Sydney Wednesday amid reports in Britain that the Anglo-Australian firm was facing a GBP 5 billion (USD 6.5 billion) lawsuit over the deadly Samarco dam failure in Brazil in 2015.
On Wednesday, the company also said in a statement it can not speculate on the outcome of the investigation.
"However, we are working with the appropriate authorities and our focus remains on the safe recovery of our operations".
"We can not speculate on the outcome of the investigation however we are working with the appropriate authorities and our focus remains on the safe recovery of our operations", a BHP spokeswoman said today.
The Australian Transport Safety Bureau, the Office of the National Rail Safety Regulator and BHP are investigating.