BHP Billiton Ltd., the world’s biggest mining company, reported first-half profit jumped as commodity prices surged on increased demand from China, signalling growing confidence in the rally with a better-than-expected dividend and a bond buyback. Underlying profit rose to $3.24 billion in the six months through Dec. 31, Melbourne-based BHP said in a statement Tuesday.
Category: Metals
BHP Vows Legal Action at Top Copper Mine After Group Enters Site
BHP Billiton Ltd., the owner of the world’s biggest copper mine known as Escondida, said it will take legal action after a group of more than 300 people entered the mine site during a strike and forced some contractors to abandon the compound. People wearing masks entered the mine site at 6 p.m. Santiago time on Saturday, threatening the staff of contract companies and setting off fire alarms, causing damage, the Melbourne-based company said in an e-mailed statement Sunday.
BHP Union Boss Readies for Months-Long Strike Amid Wage Deadlock
The head of the union at the world’s biggest copper mine says he’s never seen owner BHP Billiton Ltd. this reluctant to cede ground over wages. That’s why he’s preparing for a long strike.
Rio Ends Quest for China Mine Riches With Biggest Shareholder
Rio Tinto Group and its largest shareholder Aluminum Corp. of China have terminated their joint venture established to find copper deposits, as global mining companies tighten exploration budgets. Chinalco Rio Tinto Exploration Co., a joint venture between Rio and Aluminum Corp., also known as Chinalco, was launched in 2011 to seek out deposits in China and had plans to expand its search to coal and potash.