Arab Today, arab today bhp production cuts as prices fluctuate
Last Updated : GMT 18:48:50
Arab Today, arab today
Arab Today, arab today

BHP production cuts as prices fluctuate

Arab Today, arab today

Arab Today, arab today BHP production cuts as prices fluctuate

Sydney - AFP

Global mining giant BHP Billiton warned that it could scale back production at unprofitable operations as commodity prices softened due to economic uncertainty. But BHP chief Marius Kloppers on Sunday said the firm\'s flagship iron ore business was in good health despite weakening Chinese demand and insisted it would take a \"fairly big event\" to knock expansion plans worth Aus$27 (US$29) billion off course. \"I think a more immediate problem is that... given some of those price movements that you\'ve seen, not all of our operations are making profit to the same extent at the moment,\" Kloppers told ABC television. \"That\'s probably more the avenue that you\'re going to see us act in, where an existing operation doesn\'t make profit, we\'re probably likely to say \'look this is not making profit, let\'s curtail production\'.\" BHP posted a 5.5 percent fall in first half profits last week to US$9.4 billion, largely due to volatility in commodity prices, and Kloppers said iron ore had \"clearly moderated a little bit\" as China cooled. However, Kloppers said freight costs from Australia\'s resource-rich west coast to China were \"as low as they\'ve ever been\" and iron ore shipments would be very profitable \"even if that price comes back a little bit more.\" \"We\'re going to make very good returns on those projects,\" the mining chief said. Asked about the blockbuster merger of commodities titan Glencore and miner Xstrata to create a huge US$90 billion group, Kloppers said the long-term trend was \"always towards consolidation\", particularly in mining. He would not be drawn on whether BHP was eyeing miner Anglo American or had any other major plays in the pipeline. \"We never speculate,\" Kloppers said, describing merger activity as an \"opportunistic thing\". \"I have absolutely no doubt that over time we will do more transactions, but we\'re pretty busy at the moment and it\'s difficult for me to speculate on any individual transaction.\" BHP bought shale gas giant Petrohawk Energy Corporation for US$15.1 billion last year in a bid to diversify its business, following the failure of a US$39 billion bid for Canadian fertiliser-maker Potash Corp in late 2010. The world\'s largest miner made a hostile US$147 billion play for major rival Rio Tinto in 2007 but the deal failed due to the financial crisis, and the pair had to abandon a second merger attempt in 2010 following regulatory opposition.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bhp production cuts as prices fluctuate Arab Today, arab today bhp production cuts as prices fluctuate

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Singer Rowida Attiya will issue a new song

GMT 07:38 2017 Tuesday ,28 March

Singer Rowida Attiya will issue a new song
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday