Tag: BHP

While BHP Billiton has a problem with possible corruption (see next report), it has made an interesting call in its third quarter production report.

BHP Billiton, the world’s biggest mining company, has joined its smaller rival, Rio Tinto, in being implicated in possible corrupt activities.

BHP Billiton and Rio Tinto, plus the likes of Fortescue and other iron ore exporters, are in for big profit gains this year.

Hard on the heels of Friday’s deal with a Japanese steel mill for a 50% price rise for hard coking coal, BHP Billiton has revealed the settlement of 2010 deals with other buyers in China, Europe and Japan.

Hard on the heels of news of offers flying to and fro in the steel industry for 2010 iron ore pricing, BHP is reported to have struck an innovative new short term contract with a big Japanese steel mill that contains a 55% price rise for hard coking coal.

It might have been the weakest first half profit in four years, but BHP Billiton did better than analysts had forecast, nudged its US dollar denominated dividend a touch higher and made the right cautious noises about the chances of a sustained global recovery.

Last week was a busy one for BHP: there was a board meeting to examine the interim results (due for release the week after next) several deals and spending plans for given the greenlight and two board appointments (and retirements were revealed) and announced in a flurry of announcements on Friday.

As expected, BHP Billiton, had a very good second quarter and first half (to the end of December) in its various mines and commodities.

There's a bit of chicken and egg argument around the pricing of BHP Billiton (and of course Rio Tinto) shares at the moment.

BHP Billiton (BHP) fell by almost 3% this morning after the Australian-listed company announced that it has ceased its controversial share buyback program.

A sharp fall in the value of the Australian dollar Friday night and a rise in the value of the yen to an 18 month high have introduced a note of volatility into BHP Billiton's huge bid for rival Rio Tinto.

BHP Billiton missed some analysts' forecasts with its first quarter production figures yesterday, thanks in part to problems in the Australian coal infrastructure chain and maintenance work that cut output.

Led by BHP Billiton, another solid profit reporting season seems to be lifting sentiment in the local markets.

Eight successive half year record profits in a row, capped by the latest which pushed the annual result of the world's biggest miner up 35% to $US13.7 billion (or $A16.27 billion at yesterday's exchange rate of 80.24 USc for the Australian dollar).

BHP Billiton is on track to produce its biggest ever annual profit after reporting its strongest ever quarterly and annual production report.

No matter how you look at the production figures released by BHP Billiton yesterday, they paint a picture of a company going full steam ahead, and looking to do better.

The world's biggest miner, BHP Billiton, has signalled that the huge Olympic Dam mining project in South Australia is moving towards a multi-billion dollar expansion.

The resources boom goes on, despite some fraying at the edges with the impact of the higher Australian dollar, labour and resources shortages and slowing prices

It's the biggest drawback in a company's succession planning: what to do with the senior executives who miss out on the top job.

The market reaction said it all.