May 9 (Reuters) - Orica Ltd ORI.AX :
* Orica 2016 half year financial results ORI.AX
* Expected that the market will remain challenged for the foreseeable future"
* Board expects the total payout ratio to be in the range of 40 to 70 percent of underlying earnings"
* Will see capital expenditure for FY 2016 of approximately $320 million
* Expects global explosives volumes in the range of 3.45 million tonnes in FY 2016
* FY 2016 effective tax rate (excluding individually material items) to be slightly lower than FY 2015
* Approximately $85 million negative impact is expected from price resets and contract renewals in FY 2016
* Source text for Eikon ID:nASX76fHfx