Ken MacKenzie defended CEO after attacks from activist investor Elliott Advisors prompted speculation that the end of Andrew Mackenzie's tenure was imminent.
BHP Mining News
Pressure has mounted on BHP and its chief executive since Elliott went public in April with its criticisms of the miner's strategy.
Fire shrinks Mt Whaleback iron ore production, but output at world's largest copper mine Escondida in Chile jumps 23%.
The project will be the Japanese company’s first desalination plant and it is estimated to require an investment of around $623 million (70 billion Yen).
Representatives from Elliott have in the last month met with major BHP investors based in London, South Africa and Australia to lay out the activist fund's arguments for an overhaul of the miner.
Ongoing concerns that looming steel production cuts in China on environmental grounds will sap steel mill demand continue to weigh on prices.
Australia’s Department of Industry, Innovation and Science sees iron ore prices averaging $50 a tonne next year, and dropping to $49 a tonne in 2019.
Mining ihas been one of the last sectors to use a surge in computer processing power, cloud data storage and complex algorithms to make sense of huge amounts of scattered information - routine in today’s retail and manufacturing businesses.
Figure represents about a third of the country's iron ore mines currently in operations.
Arnoud Balhuizen, head of marketing at BHP, said the impact of the looming electric vehicle boom for raw materials producers would be felt first in the metals markets and only later in oil.
The commodity has fallen every week so far in September.
Ken Mackenzie vowed "to bring a fresh perspective to management’s ongoing process of reviewing the portfolio" and "the way we allocate cash".
Bureau Veritas’ state-of-the art mineral testing facility in Adelaide is supporting BHP and South Australia to achieve their Copper Growth Strategies.
BHP Billiton Foundation announced Tuesday its financial support for two new global projects launched at an event held in Washington DC.
Investors to vote on the two resolutions submitted ethical investing group ACCR at BHP’s annual general meeting in London in October.
Initiative is part of South Australia’s government strategy that aims to triple the state's copper production to one-million tonnes a year by 2030.
Is the industrial metals and steelmaking raw materials rally at en end?
Prices for iron ore and coking coal, the two key ingredients for steelmaking, are set to remain buoyant for the remainder of the year, Macquarie Bank predicted in a recent report.
The business could fetch around $10 billion, two banking sources said.
Working with an investment bank to off-load 25% interest in giant potash project in Saskatchewan according to new report.
After pressure BHP is exiting oil and gas. Expect similar calls for shelving its $12 billion Jansen potash project in Saskatchewan to fall on deaf ears.
Controversial director Grant King is stepping down, only six months after joining the company amid concerns among investors over oil investments.
Due to uncertain timing on the need for the commodity used as fertilizer
After posting a fourfold rise in profits, world's number one mining company now "actively pursuing options to exit" its US oil and gas business bought for $20B six years ago.
Project will extend the life of its Spence copper mine in Chile by over 50 years, at a time when copper prices have reach their highest levels since late 2014.