World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
After Going All In During Mining Boom BHP Cuts its Ambitions
Keywords:
Diversification has helped BHP weather the decline in commodities prices better than Rio Tinto, Anglo-American and Vale. BHP is expected to report profits of $12.5 billion for the last fiscal year. BHP is also in the oil and gas business, in addition to iron, ore, copper, coal and aluminium. This has made it possible to take writedowns of $5.5 billion and still make stable profits. Andrew Mackenzie, the new CEO of BHP, is a Scotsman who is focussing on the productivity of capital and cost-cutting. BHP announced $1.9 billion in cost savings since July 2012. Mackenzie's goal is to reduce capital expenditures from $18 billion today to $15 billion or less in 2-3 years. Capital is tied up in incomplete projects taken up in the boom period of higher prices, and the process of reducing capital expenditures is gradual. Capital expenditures in the mining business increased dramatically from $20 billion to $120 billion from 2003 to 2012. For most of this period China's economy registered growth rates of over 10%.
BHP Billiton
04/13/2006
Australia's largest mining company.
Grouped Articles
Wall Street Journal 05/01/2013
After Going All In During Mining Boom BHP Cuts its Ambitions
New York Times 08/08/2013
Weaker Prices Push BHP's Net Down 30%
Wall Street Journal 08/21/2013
BHP Aims to Boost Iron-Ore Output Even as Prices Fall
Wall Street Journal 07/24/2014
Rio Tinto Digs In as Rival Spins Off
Wall Street Journal 05/07/2015
Overheard: South32’s Not-So-Fond Farewell to BHP Billiton
Wall Street Journal 07/23/2015
BHP Billiton performance
08/24/2011
Grouped Articles
Wall Street Journal 05/30/2013
After Going All In During Mining Boom BHP Cuts its Ambitions
New York Times 08/08/2013
Weaker Prices Push BHP's Net Down 30%
Wall Street Journal 08/21/2013
Hard Labor Needed for Mining Renaissance
Wall Street Journal 01/22/2014
Wall Street Journal 04/02/2014
BHP Aims to Boost Iron-Ore Output Even as Prices Fall
Wall Street Journal 07/24/2014
Surge in commodities prices- 2010-2012
04/13/2006
Grouped Articles
After Going All In During Mining Boom BHP Cuts its Ambitions
New York Times 08/08/2013
Commodities Fall as Stockpiles Mount Up
Wall Street Journal 01/19/2015
Prices of Raw Goods Plunge on Slowdown
Wall Street Journal 07/01/2012
Companies Stock Up as Commodities Prices Rise
Wall Street Journal 02/03/2011
Sugar Prices Hit New Heights on Australian Cyclone
Wall Street Journal 02/03/2011
A Cotton Market Targets Speculators
Wall Street Journal 02/04/2011
Commodities and Avoiding Boom Bust cycles
04/13/2006
BHP Broken Hill Proprietary, big Australian mining company and how its working the commodity business a different way from the past. Comparison to oil Companies and similar issues faced by oil companies though more complex in the case of oil.
Grouped Articles
Wall Street Journal 05/01/2013
Wall Street Journal 05/30/2013
After Going All In During Mining Boom BHP Cuts its Ambitions
New York Times 08/08/2013
The Deal Is Simple. Australia Gets Money, China Gets Australia
BusinessWeek 09/02/2010
An Australian Boom Town Feels Chill of Commodity Price Decline
Wall Street Journal 06/09/2014
China’s Slowdown Hits Price of Iron Ore
Wall Street Journal 12/01/2014
BHP Billiton management
08/24/2011
Grouped Articles
After Going All In During Mining Boom BHP Cuts its Ambitions
New York Times 08/08/2013
Weaker Prices Push BHP's Net Down 30%
Wall Street Journal 08/21/2013
Wall Street Journal 04/02/2014
BHP Aims to Boost Iron-Ore Output Even as Prices Fall
Wall Street Journal 07/24/2014
Rio Tinto Digs In as Rival Spins Off
Wall Street Journal 05/07/2015
Overheard: South32’s Not-So-Fond Farewell to BHP Billiton
Wall Street Journal 07/23/2015
BHP Billiton strategies
08/24/2011
Grouped Articles
Wall Street Journal 05/30/2013
After Going All In During Mining Boom BHP Cuts its Ambitions
New York Times 08/08/2013
Weaker Prices Push BHP's Net Down 30%
Wall Street Journal 08/21/2013
Wall Street Journal 04/02/2014
BHP Aims to Boost Iron-Ore Output Even as Prices Fall
Wall Street Journal 07/24/2014
Rio Tinto Digs In as Rival Spins Off
Wall Street Journal 05/07/2015
The slowdown in China and the impact on Australia as the commodities boom fades
05/06/2010
Grouped Articles
Wall Street Journal 07/15/2013
Where Will the Next Financial Bubble Be?
BusinessWeek 05/06/2010
After Going All In During Mining Boom BHP Cuts its Ambitions
New York Times 08/08/2013
The Deal Is Simple. Australia Gets Money, China Gets Australia
BusinessWeek 09/02/2010
China Slowdown Is Rocking Raw Materials
Wall Street Journal 03/12/2014
An Australian Boom Town Feels Chill of Commodity Price Decline
Wall Street Journal 06/09/2014
CEO Andrew Mackenzie and the focus on productivity of capital at BHP in 2012-2014
08/08/2013
The focus shifts to productivity of capital and cost improvements at large mining companies after the period of higher prices is over for commodities in 2012-2013. Large capital writedowns have created a crisis of confidence with investors. Large projects remain incomplete, making the process of reducing capital expenditures a gradual one.
Grouped Articles
After Going All In During Mining Boom BHP Cuts its Ambitions
New York Times 08/08/2013
Wall Street Journal 04/02/2014
BHP Aims to Boost Iron-Ore Output Even as Prices Fall
Wall Street Journal 07/24/2014
Commodities Fall as Stockpiles Mount Up
Wall Street Journal 01/19/2015
Rio Tinto Digs In as Rival Spins Off
Wall Street Journal 05/07/2015
Economist 08/24/2015
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us