Miners rich in cash are aiming for fat dividends, debt payments

The mining industry is awash with cash, and so far it’s got two main uses — pay down debt and reward investors. Three of the big four London-listed miners have released earnings this month, and it’s clear the companies are doing what shareholders have demanded of them. Glencore Plc, which traditionally favored stuffing its war[…]

BHP rebuffs Elliott as first-half profit hits three-year high

BHP Billiton Ltd. rejected a new activist call for a corporate overhaul and joined rivals in boosting investor returns as first-half profit rose to a three-year high. The world’s biggest miner raised interim dividend payments 38 percent to beat estimates as underlying earnings rose by 25 percent to $4.1 billion, according to a Tuesday statement.[…]

Mining sector unloved as investors find it hard to trust

Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed. A decade-long commodity boom coincided with years of economic growth when China took off, but when the global economy slowed, so did the market[…]

Rio investors asked to push miner to leave Minerals Council of Australia

Shareholders of world’s second largest miner Rio Tinto (ASX, LON:RIO) are being recruited to demand the company quit Australia’s top mining lobby group. The Australasian Centre for Corporate Responsibility (ACCR) is looking to persuade about 100 investors to co-file a resolution at Rio Tinto’s upcoming annual general meeting, in which it will ask the group to leave[…]

These are some of the top mining assets on the block

Big mining companies, restored to health following the 2015-16 price crash, are seeking to rationalize their portfolios and acquire assets in line with heightened focus on the best quality minerals and anticipated demand for battery materials. Still, the mood remains cautious and the focus has been on smaller deals after the damage inflicted by steep[…]

Former Xstrata CEO Mick Davis may become Rio Tinto new chairman

Former Xstrata chief executive Mick Davis, the current leader of Britain’s ruling Conservative Party, is said to be the frontrunner to become Rio Tinto’s new chairman. People familiar with the matter told Sky News the South African-born businessman has held talks with Rio over the position held until the end of the year by retiring chairman Jan[…]

BHP exiting oil and gas

World number one mining company BHP posted a fourfold rise in underlying profits on Tuesday in Australia of $6.7 billion. Free cash flow also surged, coming in at $12.6 billion. ADRs of the Melbourne-based giant was unchanged in after hours following a 1.3% gain during regular trading. The stock (NYSE:BHP) is up 14.3% in value this[…]

BHP iron ore output hits new record but copper production tanks

The world’s number one mining company BHP  (NYSE:BHP) reported record full-year production at its Western Australia iron ore division on Tuesday. The Melbourne-based giant said thanks to the continued ramp up of additional capacity at its Jimblebar operations in Western Australia production at its iron ore unit rose 4% year-on-year to 231m tonnes for the[…]

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[…]