BHP Billiton beats expectations but disappoints with guidance July 22, 2015 Mining giant BHP Billiton smashed through iron ore production guidance in the year ended 30 June, posting output of 233m tonnes against a projected 230m tonnes. Petroleum production climbed by four per cent in the year, up to 256m barrels of oil equivalent, and metallurgical coal output was up 13 per cent to 43m tonnes. [...]
Glencore share price falls as FTSE miners feel the heat from commodities selloff July 7, 2015 London-listed miners felt the heat today after the outlook for the Chinese economy darkened amid ongoing equity market turmoil. Earlier in the day copper prices fell 5.9 per cent to a six-year low of $2.389 a pound on concern about economic growth in China, the world's top metals consumer. It comes a day after Chinese brokerages [...]
BHP Billiton spin-off in good stead as debt is halved March 17, 2015 Commodities group BHP Billiton is set to spin-off its weaker assets with less debt than originally expected through fledgling mining company South32. South32’s portfolio of mines and refineries has long been overshadowed by BHP’s iron, petroleum and copper businesses. The smaller business contributed post-tax profits of $738m (£500m) in the last six months of 2014, [...]
BHP Billiton dubs new $15bn mine spin-off venture South32 December 8, 2014 ANGLO-Australian mining company BHP Billiton yesterday named its new $15bn (£9.6bn) mining spin-off – South32. The title comes from the fact that the company’s main resources are located in the southern hemisphere, namely in South Africa and Australia. Both of these areas are linked by the thirty-second parallel south line of latitude. BHP Billiton initially [...]
BHP Billiton share price up as miner confirms new metals firm will list in London October 16, 2014 BHP Billiton’s shares yesterday dipped briefly by almost two per cent, but finished up 0.12 per cent, after confirming that its new company would be listed on the London Stock Exchange. Andrew Mackenzie, BHP’s chief executive, said: “We are pleased to offer an additional listing in London in response to the interest investors have shown [...]
Iron miner BHP cuts costs as it builds capacity October 6, 2014 MINING company BHP Billiton is aiming to cut costs while increasing capacity at its Western Australia Iron Ore (WAIO) operation, the group announced yesterday. BHP iron ore president Jimmy Wilson told investors at a tour of the WAIO site that the firm planned to cut unit costs by “at least 25 per cent” to $20 [...]
BHP Billiton share price falls despite Australian expansion plan October 6, 2014 BHP Billiton says it can cut costs at its iron ore mines in Australia, providing attractive returns for shareholders despite pessimism pervading the iron ore industry as a whole. This failed to impress investors, however, with shares in the company going down by 0.2 per cent to £16.48 in trading this morning. The [...]
BHP Billiton set to add London listing for miner September 24, 2014 BHP Billiton is seriously considering offering an additional London listing for its new mining spin off, in a potential victory for UK shareholders who had pushed for such a move since demerger proposals a month ago. BHP had initially announced listings only on Australian and South African exchanges for the new company, but is now [...]
London Report: FTSE stems its losses after BHP announces spin-off firm plans September 24, 2014 BRITAIN’S top share index yesterday ended higher, with gains from BHP Billiton on its plan to list a spin-off company also in London and supportive comments from ECB chief Mario Draghi. The FTSE 100 finished 0.5 per cent higher at 6,706.27 points after staying almost flat during most of the session. BHP Billiton ended 3.2 [...]
BHP Billiton and Mitsubishi share prices bumped up by coal mine job cuts September 23, 2014 Investors reacted positively to the news that BHP Billiton and Mitsubishi are cutting 700 jobs at a joint coal venture in Australia. Shares in BHP Billiton went up by 0.92 per cent to 1,746.5 pence on the London Stock Exchange this morning, while Mitsubishi shares rose by 0.7 per cent $5.79 on the New [...]