Another BHP investor pressing for oil spinoff, board shake-up

Australia’s Tribeca Investment Partners became Friday the second shareholder in world’s largest miner BHP Billiton (ASX: BHP) (LON:BLT) to publicly press for strategic changes at the company. Tribeca, a Sydney-based boutique hedge fund, has sent the miner an eight-page letter titled “Making BHP Great Again,” in which it says the company could raise nearly $10 billion from the[…]

South32 buys stake in Canada’s Arizona Mining for $81 million

Australia’s South32 (ASX, LON, JSE:S32) is investing some of its $1.5 billion of cash in a minority stake in Canada-listed Arizona Mining (TSX:AZ), which plans to develop a zinc-lead-silver project in Arizona. Deal comes only two weeks after South32 walked away from a $200 million planned acquisition of Peabody Energy’s coal mine in New South Wales. As part of[…]

BHP brands Elliott's overhaul proposals as flawed, costly

BHP Billiton (ASX: BHP) (LON:BLT) has come up with a detailed response to activist investor Elliott Management, which issued a 10-page letter on Monday calling for major changes at the world’s largest mining company. In its extensive presentation, the Melbourne-based miner said the minor shareholder’s proposal to overhaul BHP’s structure and spin off its US petroleum division[…]

BHP Billiton to escalate defence from Elliott with Goldman’s help

BHP Billiton (ASX: BHP) (LON:BLT) is working with Goldman Sachs Group Inc. on a detailed response to activist investor Elliott Management, which yesterday issued a 10-page letter calling for major changes at the world’s largest mining company. The bank’s involvement in the issue is nothing new, people with knowledge of the matter told Bloomberg. In fact,[…]

BHP rejects activist fund Elliott urge to spin off US oil assets

BHP Billiton (ASX: BHP) (LON:BLT), the world’s largest mining company, has rejected a push by activist investor Elliott Management to unlock shareholder value by spinning off about $22 billion of its US oil assets and list them in New York. The hedge fund manager’s demerger proposal, BHP said in a statement, included the suggestion of[…]

The world’s largest miner wants more action on carbon capture

BHP Billiton (ASX:BHP), the world’s largest mining company, is urging governments to provide more support to the industry for developing carbon capture and storage (CCS) projects. The company’s vice president of sustainability & climate change, Fiona Wild, said BHP sees such initiatives as an effective way to reduce global emissions, meet climate targets and support[…]

Australia’s record-breaking mining exports hint of new sector boom

Australia’s trade surplus surged to a record high in December of $3.5 billion thanks to a mix of higher mineral exports and soaring commodity prices, in which some see the beginning of a new mining boom. Exports’ value jumped 5% in December from November helped by a 14% increase in coal and a 10% rise[…]

South32 looking for more coking coal mines

South32 (ASX, LON, JSE:S32), the Australian miner spun off from BHP Billiton last year, it’s interested in acquiring more coal mines producing the steelmaking kind, following its recent acquisition of Peabody Energy’s Metropolitan coal mine. The company, however, has decided to stay away from thermal coal assets due mainly to uncertainties over demand linked to climate[…]

South32 scoops up Peabody's Metropolitan coal mine in $200m deal

South32 (ASX, LON, JSE:S32) has finally scored a deal by grabbing Peabody Energy’s Metropolitan coal mine in Australia for $200 million. The BHP Billiton’s spin-off, which had been looking for assets to add to its portfolio for quite a while, mainly lithium and copper ones, said the deal includes a 17% interest in the Port Kembla[…]