BHP declared record dividend as profit hits four-year high
BHP Billiton paid out a record dividend as profits hit a four-year high on stronger prices and confirmed it’ll return the bulk of almost $11 billion in asset sales to investors.
BHP Billiton paid out a record dividend as profits hit a four-year high on stronger prices and confirmed it’ll return the bulk of almost $11 billion in asset sales to investors.
Glencore’s Ivan Glasenberg is looking to trump China’s Yanzhou Coal Mining with a rival bid for Rio Tinto Group coal assets in Australia.
BHP Billiton full-year underlying profit declined 81 percent for the worst result since 2001 after raw materials tumbled to a 25-year low in January.
The $1.4 trillion collapse in the value of mining stocks since 2011 has many investors looking at potential M&A activity for a revival within the sector.
The steel industry executive who correctly predicted weakening Chinese demand three years ago is perplexed by the inability of the world’s biggest miners of iron ore to accept the new reality.
Iron ore supply will increase by about 100 million to 110 million tons this year, exceeding demand growth of 30 million to 40 million tons.
Australia is poised to launch an inquiry into “flooding” of the iron ore market by the world’s three biggest producers – BHP Billiton, Rio Tinto and Vale.
Iron ore shipments from Australia are set to pick up in the second half on mine expansions from the largest suppliers and prices may average $45 a metric ton between July and December.
The world’s biggest buyer of metals will account for about 11 percent of sales for South32 Ltd., while parent BHP Billiton Ltd. and its biggest competitor Rio Tinto Group rely on China to generate more than a third of their revenue.
Standard & Poor’s warned on Monday it may cut BHP Billiton’s credit rating in the next 12 months.