BHP Billiton output soars July 17, 2013 FTSE 100-listed BHP Billiton today announced that production at two of its mines had exceeded guidance this year and expansion of its iron ore division is running ahead of schedule. Total iron ore production increased by seven per cent to 170 million tonnes in the 2013 financial year, while copper increased by 10 per cent [...]
BHP’s strong production figures a relief for struggling firm July 17, 2013 Resources company BHP Billiton has reported a strong year of production as Western Australia Iron Ore and Escondida exceeded production guidance and annual records were achieved across seven operations and five commodities. Western Australia Iron Ore set its 13th consevucitve annual production record for the year ended 30 June 2013, with production up seven per [...]
Miner Rio Tinto puts brakes on sliding FTSE 100 July 16, 2013 MINING heavyweight Rio Tinto helped limit a slide in Britain’s blue-chip FTSE 100 index yesterday with a production update that assuaged some concern about Chinese demand. Rio said it would boost iron-ore output by at least 10 per cent and banked on selling more to China – providing a fillip after data on Monday showed [...]
New chair for Kazakhmys as earnings drop March 2, 2013 LONDON-LISTED Kazakh miner Kazakhmys posted a more than 30 per cent drop in 2012 core profit yesterday, excluding the impact of its share in rival ENRC, as weak prices hit revenue and failed to offset rising costs. The miner, which owns 26 per cent of rival ENRC, also said it might have to write down [...]
Glencore’s Glasenberg attacks record of mining industry CEOs February 26, 2013 IVAN Glasenberg, the billionaire boss of commodity giant Glencore, has launched a blistering attack on mining industry executives, saying they have “really screwed up”. He told investors that industry CEOs made the “catastrophic” decision to over-invest in new mines, pushing down prices at the expense of shareholder returns. “We’ve always been wanting to keep building and [...]
Rival motors February 25, 2013 NOT CONVINCED BY THE E300? HERE ARE SOME ALTERNATIVES BMW ActiveHybrid 5, £47,095 If you fancy something a little sportier, BMW’s ActiveHybrid 5 combines a 3.0-litre twin turbo six-cylinder petrol engine with an electric drive system and eight-speed automatic gearbox. With a combined power output of 340hp, BMW’s executive hybrid can be driven on electric [...]
Cyclical stocks drop after Fed warns over QE February 22, 2013 LONDON REPORT BRITAIN’S blue chip shares posted their biggest one-day loss since July yesterday on concerns the Federal Reserve could end its stimulus programme sooner than expected, removing a driver of the recent equity rally on both sides of the pond. The FTSE 100 closed down 103.83 points, or 1.6 per cent, at 6,291.54, dropping [...]
CLEAN SWEEP AS MINE BOSS QUITS February 19, 2013 BHP Billiton’s Kloppers is fourth industry giant to go in six months THE MINING industry was shaken by its latest change at the top last night, as BHP Billiton chief executive Marius Kloppers announced his retirement. The departure, the latest in a string of shake-ups among the FTSE 100’s mining giants, will see Andrew Mackenzie, [...]
Bottom Line: Pay must match performance if firms want to attract the best February 19, 2013 WITH so much focus on the latest bonus controls that EU politicians want to slap on Europe’s banks, it’s sometimes easy to forget just how severely economic uncertainty has already slashed pay. It’s also often forgotten that banks aren’t just populated by the deal-makers that attract the public’s attention – behind every rainmaker there’s a [...]
This new Porsche sounds like a hit February 18, 2013 SOMEWHERE IN the latest Porsche Cayman are 12 loudspeakers. How they’ve squeezed them in is anyone’s guess. It’s “the fastest concert hall in the world,” according to Hans Jürgen Wöhler, chief of mid-engined cars at Porsche. Despite the fact no one is going to buy this car for its audio system, Wöhler can barely contain [...]