Brazil's suspended iron ore producer Samarco misses another payment on its $3.8 billion debt as it struggles to stay afloat following deadly dam burst.
BHP Billiton Mining News
La Escondida is 57.5% owned by BHP Billiton and 30% owned by Rio Tinto.
If convicted, accused executives could face sentences of between 12 and 30 years in prison.
He said he had intended to announce his retirement last year but chose to stay on while BHP dealt with the aftermath of the Samarco mine disaster in Brazil.
Outside the meeting, a street theatre re-enactment of the destruction of the Doce River in Minas Gerais, Brazil, was accompanied by testimonials from frontline visitors affected by the company’s operations in Brazil, Colombia and Indonesia.
"We challenge dated stereotypes about jobs in the resources industry.”
BHP is not the first major player to flag green shoots in the mining industry. Caterpillar, the world's largest heavy machinery maker, said the same last month.
The company believes the market is set to move back into balance in 2017, with demand to exceed global supply.
Longer term prospects are brighter due to lack of high-quality future development opportunities.
Deadly November tailings dam burst at Samarco iron ore mine and commodity downturn key considerations to slash executive pay.
Prices for the steel-making ingredient are down by 9.8% over a month ago and most of the massive projects expected to come on stream this year are not producing at full steam yet.
"China’s steel use will also reflect its maturing economic structure and consumerization."
August shipments third best month on record as price slips to six-week low and BHP warns of new supply pushing prices down further.
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Panel appointed by Vale and BHP release their findings.
The first time the SEC has paid an Australian whistleblower in a corruption case.
World's largest iron ore pellet operation has been shut since November.
The miner continues to look for new assets, including Anglo American’s 40% stake in their manganese joint venture — Samancor.
Citi analysts believe the steel-making ingredient will average $51 a tonne in the final quarter of 2016 and fall to $45 next year.
At a sold-out Moranbah luncheon last week, Bowen Basin Mining Club members were offered a timely insight into BHP Billiton’s global focus on production efficiencies and changing supply management practices.
The company, however, said it continues looking for a partner to take the venture off the ground.
Not even counting the $7.7 billion in write-downs and charges, BHP’s underlying profit dropped by a painful 81% to $1.2 billion for the year to June.
Recommendations regarding better site investigation procedures, and stricter adherence to tailings management procedures are obvious steps in the right direction.
Iron ore’s resilience in recent months has defied many analysts’ forecasts, as Beijing’s stimulus plans, restocking by Chinese steel mills and historically low port stockpiles have supported prices.
Study shows the most efficient mines in top producer Chile now produce copper for less than $1 a pound after finding an additional 13% in savings this year.