News Articles for BHP

The consumer watchdog has sought further information from miner Fortescue Metals Group on its proposed tie-up with Brazilian iron ore giant Vale.

The recent BHP Billiton organisational restructure will drive productivity improvements without significant operational job losses, according to new BHP operations president of Australian minerals Mike Henry, although the company won't commit to a deadline for its targeted 290 million tonnes per annum iron ore run rate.

Smaller iron ore miners were the big winners today after the iron ore price surged overnight, whereas Fortescue Metals Group failed to sustain Monday's big gains despite announcing a joint venture

BHP Billiton will axe almost 300 jobs from its Mount Arthur coal mine in the Hunter Valley in New South Wales.

Fortescue Metals Group and Brazilian competitor Vale are looking to reshape the iron ore market, announcing this morning plans for Vale to invest in FMG's mining operations and for the two companies to form a joint venture to sell blended ore into China.

BHP Billiton says it remains committed to maintaining its strong balance sheet through the commodities downturn, after ratings agency Moody's downgraded its rating for the global miner.

BHP Billiton has agreed to a settlement with Brazilian authorities over the Samarco dam disaster worth at least $US2.4 billion ($A3.15 billion)

BHP Billiton says it is not keen on boosting iron ore supplies in a weak market, signalling a change in its long-held position, as it shifts focus to maintaining financial discipline.

Some ill-advised business decisions are coming back to haunt some of well-known local resources players.

ANALYSIS: Rubbery figures and projections aside, WA's iron ore miners are breathing a little easier thanks to improving prices and a favourable exchange rate.

Mining group South32 plans to cut 390 jobs at its Worlsey Alumina operation in Western Australia's South West, as part of a global cost-cutting drive following its $US1.7 billion ($A2.4 billion) loss for the half year to December.

Local waste management company Tox Free Solutions has won a new contract for work at BHP Billiton's Olympic Dam mine in South Australia, along with an extension for ongoing work at Chevron's Western Australian assets, for an undisclosed sum.

BHP Billiton has responded to its mammoth interim loss and the prospect of a prolonged downturn by slashing its dividend and adopting a new management structure that leaves Western Australia without a representative in the company's leadership group.

Ardiden has appointed Bradley Boyle as executive director and Michael Stares as general manager – Canadian operations. Mr Boyle was formerly a managing director of Triton Minerals.

Two articles in Business News (February 2016) may have left readers with a view the progress on Rottnest has stalled. This is far from the case.

Southern Cross Electrical Engineering says it has won $20 million in new contracts and extensions since the start of the year, including a contract for work at BHP Billiton's Jimblebar iron ore mine in the Pilbara.

It's likely more nickel operations will need to be closed before there's any improvement in prices for the steel-making commodity.

The technology bubble that has inflated share prices around the world hasn't burst, but it has certainly lost a lot of air and credibility.

Mining giant BHP Billiton can defend its credit rating by scrapping its controversial progressive dividend policy, ratings agency Standard and Poor's says.

Ratings agency Standard & Poor's could force BHP Billiton's hand on its controversial dividend policy after lowering the resources giant's credit rating by a notch and putting it on negative watch.

Premier Colin Barnett and Planning Minister John Day have officially opened Elizabeth Quay after decades of discussion and debate.

The Samarco mine in the southeastern city of Mariana, where last November a huge toxic waste spill caused Brazil's worst environmental disaster, has had a new spill although no victims have been reported, the company says.

Jonathan Murray has been appointed as a non-executive director of Vietnam Industrial Investments.

You probably wouldn't believe it if someone told you that Perth-based retailing specialist Wesfarmers was bigger than global resources leader BHP Billiton, but that was the situation last week on the Australian Securities Exchange as the company led by Richard Goyder quietly slipped past the global mining giant.

BHP Billiton spin-off South32 has slashed its debt and sharply cut costs as it races to stay ahead of weaker earnings amid a slump in commodities prices.

City of Perth chief executive Gary Stevenson has been sacked, three years into a five-year contract, following a horror year for the council.

BHP Billiton is facing another $1 billion hit to its bottom line and has cut its full-year iron ore production target.

Pressure is mounting on self-proclaimed billionaire Clive Palmer to meet with affected workers at his embattled north Queensland nickel refinery.

Mining giant BHP Billiton will write down the value of its onshore US oil and gas assets by more than 30 per cent as it factors in the slump in crude oil prices.

Western Australia's biggest and most productive gas production facility suffered an equipment failure early this morning.

Australia's biggest iron ore miners are expected to slash dividends next month as the price of the steel-making commodity dropped to $US40 a tonne overnight.

South Australian Senator Nick Xenophon has renewed his call for an inquiry into the cause of the dramatic recent fall in the iron ore price while in Perth today, as shares in the state's biggest miners continued to fall.

Australia's struggling oil and gas producers are expected to put more assets on the market this year as oil prices hit fresh 12-year lows.

Canny investors would be well advised to plan for the worst and hope for the best as 2016 bears down on us.

The federal government seems to be preparing the public for reform with its semi-regular announcements from ministers that ‘everything is on the table', particularly since Malcolm Turnbull took the prime ministership from Tony Abbott.

Woodside Petroleum and its joint venture partners have given the go-ahead to a $2 billion subsea development at the North West Shelf Project off the Pilbara coast.

Bell Group has been in the news recently, which is an apt reminder of the downside of debt, considering the state of play in the resources sector.

SPECIAL REPORT: Newly appointed chief executives in Western Australia are mostly receiving lower salaries than their predecessors, but retaining plenty of upside through incentive schemes, a survey of nearly 40 new CEO pay packages has found.

SPECIAL REPORT: The 2015 CEO salary survey has some surprising names near the top of the list while some of the state's best chief executives are unexpectedly low down.

With the iron ore price falling to nearly $US40 per tonne, analysts can't see an end to the pain any time soon.