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[…]

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[…]

Trump’s energy policy to focus on boosting fracking, reviving coal sector

Following US President Donald Trump’s inauguration last week, his administration has confirmed its intentions to reverse Barack Obama’s climate change policies, boost fracking for oil and gas, and lift current restrictions affecting the coal mining sector. In the document entitled “An America First Energy Plan,” the US new leader outlined his government’s goals, leaving out specifics about how exactly[…]

BHP Billiton to lose chairman Jac Nasser next year

The chairman of the world’s largest mining company, BHP Billiton (ASX, NYSE:BHP) (LON:BLT) has just announced he would not seek re-election at next year’s annual general meeting (AGM). Nasser had intended to announce his retirement last year but chose to stay on at the mining company to provide stability as BHP dealt with the aftermath of Samarco.[…]

World’s top miner BHP Billiton finally sees signs of recovery in mining

For the first time in about five year the world’s No. 1 mining company BHP Billiton (ASX, NYSE:BHP) (LON:BLT) has said it was finally seeing clear signs of a commodity market turnaround. Announcing the results of an operational review ended Sep. 30, chief executive officer Andrew Mackenzie said there were “early signs of markets rebalancing.” Iron[…]

World’s No. 1 miner BHP Billiton put its money on oil and gas

World’s No. 1 mining company BHP Billiton (ASX, NYSE:BHP) (LON:BLT) is going all out for its petroleum business, planning to invest as much as $5 billion in that unit as well as mulling potential acquisitions thanks recovering oil prices and the firm’s efforts to lower costs. The company has renewed expansion plans for its oil business as a[…]