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[…]

China halts oil product exports to North Korea in November as sanctions bite

China exported no oil products to North Korea in November, Chinese customs data showed, apparently going above and beyond sanctions imposed earlier this year by the United Nations in a bid to limit petroleum shipments to the isolated country. Tensions have flared anew over North Korea’s ongoing nuclear and missile programmes, pursued in defiance of[…]

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[…]

Trump goes after another of the Obama-era protection rules to favour miners

The Trump administration is going after another of the Obama-era environment protection rules by ordering a review of conservation plan for the greater sage grouse, in a move that would make more land available to oil, gas and mining companies. Announcing the measure, Interior Secretary Ryan Zinke said that while the federal government has a responsibility under[…]

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 puts US shale assets back on the block amid investors pressure

Mining giant BHP Billiton (ASX, NYSE:BHP), (LON:BLT) is once mulling the future of its US-based Fayetteville shale gas assets to focus on more lucrative opportunities in oil, but said decision was not related to activist investor Elliott Management’s call earlier this month for an overhaul of the firm. The company, which last year logged its largest-ever[…]

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[…]