BHP BILLITON LIMITED

Bonds, shares buck trend and rise together

22 May 2012 | Philip Baker

There’s a growing disconnect between shares and government bonds. Usually when bond prices rise, share prices fall. This time around however, both bond prices and share prices are rising in concert.

BHP to reopen Tasmanian manganese plant

22 May 2012 | Jamie Freed

BHP Billiton has decided to restart production at its TEMCO manganese alloy plant in Tasmania following a 90-day suspension while it reviewed the ongoing viability of the operation.

Spot iron down 10pc in month

22 May 2012 | Jamie Freed

PRINT: 22 May 2012 | PAGE 3 | Spot iron down 10pc in month

The iron ore market has become increasingly fragile as weakening market sentiment hits Chinese steel producers.

CFO | ‘Value at Risk’ has a place if you know its limits

21 May 2012 | Shaun Drummond

Value at risk models have a place, but there always needs to be a real world check on what is being fed into them, and they’re unlikely to tell you how big the big risks are going to be - which ultimately is what really matters.

BHP, Rio shareholders advised to stay calm

19 May 2012 | Ayesha de Kretser

PRINT: 19 May 2012 | PAGE 3 | BHP, Rio shareholders advised to stay calm

It’s been a rough ride for shareholders invested in mining stocks this week but there’s no sign yet that anyone should be racing for the exits.

Abbot Pt coal terminal expansion scrapped

19 May 2012 | Mark Ludlow

PRINT: 19 May 2012 | PAGE 1 | $9bn coal port plan

The Newman government has pulled the plug on the $9 billion privately-funded expansion of Abbot Point coal terminal in North Queensland, a project that would have created one of the largest coal ports in the world.

Learning to weather the ‘shale gale’

19 May 2012 | Angela Macdonald-Smith and Perry Williams

PRINT: 19 May 2012 | PAGE 2 | Learning to weather the ‘shale gale’

BHP Billiton’s petroleum head Mike Yeager is every inch the US oil man. With a deep Texan drawl, his appearances on Australian soil are keenly observed by investors eager to gauge his views of the global oil and gas industry.

Big challenges in uncertain world

19 May 2012 | The Australian Financial Review

PRINT: 19 May 2012 | PAGE 62 | Serious challenges in an uncertain world

Editorial | Evidence of fragility in the world economy and financial market jitters should probably be viewed here in Australia with caution rather than alarm.

Workers to take strike action

18 May 2012 | Pip Freebairn

PRINT: 19 May 2012 | PAGE 2 | Workers at BHP to take action

Mining giant BHP Billiton faces an escalation in industrial action with its workforce at its Queensland coalmines joint venture declaring a seven-day strike from next Thursday.

Land of the rising sum

18 May 2012 | Stephen Wyatt

PRINT: 18 May 2012 | PAGE 1 |

There may well be a new pillar of support for Australian resources and the Australian economy – Japan, which is seeing growth at last.

Equities extend losses, Spanish bank ratings cut

18 May 2012 | Brendon Lau

Before the Bell | Global equities have extended losses amid renewed EU debt crisis concerns and weak US economic data ■ S&P 500 down 1.5pc ■ Facebook sets $US38 price ■ SPI down 79pts ■ $A below US99¢ ■ Broker Watch: NWS, CBA.

Kloppers, Nasser have misjudged resource cycle

18 May 2012 | Phil Henty

PRINT: 18 May 2012 | PAGE 47 | Kloppers, Nasser have misjudged cycle

BHP chairman Jac Nasser and his chief executive Marius Kloppers think Australia is an expensive place to do business ( “BHP salvo on IR, tax”, May 17).

Listings suffer in a capsizing market

18 May 2012 | Tony Featherstone

PRINT: 18 May 2012 | PAGE 3 | Listings suffer in a capsizing market

The latest sharemarket rout is battering the initial public offerings market. More companies have withdrawn their listing applications and some prominent floats have been crunched.

Labor should heed Nasser’s wise words

18 May 2012 | The Australian Financial Review

PRINT: 18 May 2012 | PAGE 2 | Labor should heed

Editorial | BHP Billiton chairman Jac Nasser is to be congratulated for hitting the federal government hard for creating a high-cost business environment with declining competitiveness.

Union show of defiance targets BHP

18 May 2012 | Pip Freebairn

PRINT: 18 May 2012 | PAGE 1 | Union show of defiance to hit BHP

Coalminers are preparing to declare a mass, seven-day strike across BHP Billiton’s Queensland coalmines from next week in a show of defiance against the company’s call to reduce the power of unions.

Union or business: one law fits all

18 May 2012 | Louise Dodson

PRINT: 18 May 2012 | PAGE 1 | Union or business – one law fits all

Dodson | The HSU scandal has focused attention on how unions operate, the IR system, and the relationship between the ALP and unions.

Olympic Dam ‘ready to go’: Weatherill

17 May 2012 | Ayesha de Kretser

PRINT: 18 May 2012 | PAGE 1 | Weatherill confident on Olympic Dam

South Australian Premier Jay Weatherill says he has no reason to believe BHP Billiton will not approve spending on the $US30 billion expansion of the Olympic Dam copper, uranium and gold mine by the end of the year.

BHP to blame for IR disputes: Shorten

17 May 2012 | Mathew Dunckley

Updated | BHP Billiton's inability to negotiate with its workers is to blame for never-ending industrial strife at its Queensland coal mines, federal Workplace Relations Minister Bill Shorten says.

BHP Billiton backs away from joint venture

17 May 2012 |

BHP Billiton is turning its back on a silver, lead and zinc joint venture project in north Queensland amid doubts over its potential.

Shares weaker, dollar up. Japan growth surprises

17 May 2012 | Peter Wells

So we can breathe a little sigh of relief today isn’t a repeat of yesterday’s drubbing. The S&P/ASX 200 is down 0.15 per cent at 11.40am AEST, while the $A has even taken a peek above US99.50¢.

Language studies a vexed business

17 May 2012 | Geoff Winestock

PRINT: 17 May 2012 | PAGE 5 | Language skills a vexed business in the Asian century

The hard lesson of cuts in funding and declining student numbers is that not everyone accepts the business case for a greater focus on teaching Asian languages.

It just got a whole lot worse

17 May 2012 | Philip Baker

PRINT: 17 May 2012 | PAGE 4 | It just got a whole lot worse

Baker | That loud ka-ching ka-ching being heard around Europe is the sound of a few euros being taken out of the banks by the Greeks as their country faces more political instability ahead of another general election next month.

Slump sparks supercycle anxiety

17 May 2012 | Luke Forrestal

PRINT: 17 May 2012 | PAGE 4 | Slump sparks supercycle anxiety

The commodities supercycle may have come to an end, some strategists warn, after another day in which resources stocks were smashed, touching their lowest level in more than three years.

Iron Ore demand to fall: BHP chief

17 May 2012 | Ayesha de Kretser

PRINT: 17 May 2012 | PAGE 23 | Iron Ore demand to fall: BHP chief

BHP Billiton chief executive Marius Kloppers has warned that commodity prices are set to fall as demand growth slows, forcing the company to scrutinise investment decisions more closely.

Investors brace for profit warnings

17 May 2012 | Michael Smith

PRINT: 17 May 2012 | PAGE 2 | Investors brace for profit warnings

Australian investors are preparing for another round of profit downgrades before the end of the financial year as deteriorating consumer confidence, asset writedowns and rising costs undermine hopes for a second-half recovery.

Kloppers gets message home

17 May 2012 | Ayesha de Kretser

PRINT: 17 May 2012 | PAGE 1 | Kloppers gets message home

Marius Kloppers is a smart man and yesterday’s presentation, however bland it seemed on the surface, conveyed a powerful message.

Jac Nasser nails Labor

17 May 2012 | Jennifer Hewett

PRINT: 17 May 2012 | PAGE 1 | Nasser nails Labor

Hewett | Whack! Plain speaking BHP Billiton chairman Jac Nasser has never been one for equivocation when he sees a problem.

The problem with BHP

17 May 2012 | Tony Boyd

PRINT: 17 May 2012 | PAGE 1 | The problem with BHP Billiton

A speech in Sydney by BHP Billiton chairman Jac Nasser and an earlier presentation by CEO Marius Kloppers in Florida, did nothing for the stock.

Double act but one message

17 May 2012 | Matthew Stevens

PRINT: 17 May 2012 | PAGE 1 | Double act but one message

The double act played out by BHP’s Jac Nasser and Marius Kloppers warns Australia about its minerals and energy future.

BHP fires salvo on industrial relations, tax

16 May 2012 | Andrew White

PRINT: 17 May 2012 | PAGE 1 | BHP salvo on IR, tax

BHP Billiton chairman Jac Nasser has launched a broadside at the Gillard government, calling for a halt to tax changes that have unsettled investors, and for an industrial relations system that balances the needs of ­companies and employees to stem a fall in competitiveness.

Iron ore demand to drop: Kloppers

16 May 2012 |

PRINT: 17 May 2012 | PAGE 1 | Iron ore demand to fall: BHP chief

BHP Billiton chief executive Marius Kloppers has warned that commodity prices are set to fall as demand growth slows, forcing the company to scrutinise investment decisions more closely.

Karoon tips July for farm-out deal

15 May 2012 | Angela Macdonald-Smith and Perry Williams

APPEA | Tuesday at the Australian Petroleum Production and Exploration Association (APPEA) conference and exhibition at the Adelaide Convention Centre.

Company briefs

15 May 2012 |

PRINT: 15 May 2012 | PAGE 4 |

MF Global Australia’s creditors have voted in favour of a proposal to allow clients to transfer their accounts to third parties head

Minerals Resources cashes in

15 May 2012 | Dan Hall

PRINT: 15 May 2012 | PAGE 2 | Minerals Resources cashes in

The directors of Mineral Resources, backed by billionaire Gina Rinehart, have made well-timed moves to cash in a large portion of their shares.

BHP insists there’s gold in US shale

15 May 2012 | Angela Macdonald-Smith

PRINT: 15 May 2012 | PAGE 1 | BHP insists there’s gold in US shale

BHP Billiton’s petroleum chief executive, Michael Yeager, has conceded that a write-down of the mining giant’s $US26.9 billion of shale gas assets in the United States is possible given the slump in US gas prices. But he has insisted the business will create “huge wealth” in the longer term.

Companies set up plan for disaster

15 May 2012 | Angela Macdonald Smith

PRINT: 15 May 2012 | PAGE 3 | Companies set up plan for disaster

Twelve oil and gas companies in Australia have banded together in a $25 million initiative for a local emergence spill response system in a bid to counteract the loss of public confidence in the sector that risks threatening the industry’s expansion.

Ferguson better get it while it’s hot

15 May 2012 | Perry Williams

PRINT: 15 May 2012 | PAGE 4 | We’d better get it while it’s hot

Williams | Australia looks set to dramatically transform its LNG industry but it would be wise not to count its chickens before they’re hatched.

New board member appointed at BHP

14 May 2012 |

BHP Billiton has appointed the former head of global chemicals and energy company, Sasol, to its board, announcing that Pat Davies will be an independent non-executive director at BHP from June 1.

Clouds on horizon for LNG development

14 May 2012 | Angela Macdonald-Smith and Perry Williams

APPEA live | The Australian Petroleum Production and Exploration Association (APPEA) conference and exhibition at the Adelaide Convention Centre will be where “the world meets Australian oil and gas”.

Total tips a glowing future for Australian energy

14 May 2012 | Angela Macdonald-Smith

PRINT: 14 May 2012 | PAGE 1 | Total tips glowing future for Australian energy

The head of the world’s fifth-largest oil company, Total chief Christophe de Margerie, wants to turn Australia into a global energy hub on a par with the Middle East, Canada and Russia.

It’s not all roses on the gas front

14 May 2012 | Perry Williams

PRINT: 14 May 2012 | PAGE 2 | It’s not all roses on the gas front

Williams | As the doors swing open in Adelaide to the Appea conference, there’s a growing feeling that we may have seen the peak of the cycle.

BHP to talk up US shale gas prospects

14 May 2012 | Angela Macdonald-Smith

PRINT: 14 May 2012 | PAGE 3 | BHP to talk up US shale gas prospects

BHP Billiton’s Mike Yeager will emphasise the explorer’s capacity to cope with slumping US gas prices amid speculation it faces a write-down in full-year accounts.

UWA calls on miners to fund innovation

14 May 2012 | Natalie Gerritsen

PRINT: 14 May 2012 | PAGE 3 | UWA calls on miners to fund R&D

The head of Western Australia’s most prestigious university wants the state’s minerals and energy companies to commit 1 per cent of their pre-tax profits to an education endowment fund.

Canaries unwell in US coalmines

14 May 2012 | Jamie Freed

PRINT: 14 May 2012 | PAGE 1 | Canaries unwell in US coalmines

Cheap shale gas combined with stricter regulations on emissions has led to a preference for electricity from natural gas over coal.

Tough rules spur demand for forensics

14 May 2012 | Agnes King

PRINT: 14 May 2012 | PAGE 1 | Tough rules drive need for forensics

Forensic specialist McGrathNicol is using Matthew Fehon, who it recruited from KMPG, to develop direct relationships with the country’s 10 largest listed companies, as “active regulators” expose company directors to more risks and drive demand for forensic services.

Resources hubris put on hold

12 May 2012 | Tony Boyd

PRINT: 12 May 2012 | PAGE 1 | Resources hubris put on hold

Senior executives at mining giant BHP Billiton were shaken out of their complacency about the resources super cycle in November last year when all projects were put under review.

Kloppers to focus on shareholder returns

12 May 2012 | Tony Boyd

PRINT: 12 May 2012 | PAGE 1 | Kloppers’ conservative agenda

BHP Billiton boss Marius Kloppers has declared the resources giant will champion a “conservative” approach to capital management and investment opportunities.

Death of the super cycle

12 May 2012 | Ayesha de Kretser

PRINT: 12 May 2012 | PAGE 1 | Super cycle plateaus as speculation drives prices

Perhaps the biggest worry for anyone pondering how much gusto is left in the mining “super cycle” is the downward shift in confidence at the big end of town.

Downside of gas surprises BHP

12 May 2012 | Matthew Stevens

PRINT: 14 May 2012 | PAGE 1 | Downside of shale gas surprises BHP

Stevens | Stepped-up production has hit the price of shale gas, which may push BHP into embarrassing write-downs.

BMA’s Norwich Park coal production ceases

12 May 2012 | Dan Hall

PRINT: 12 May 2012 | PAGE 2 | BMA’s Norwich Park coal production ceases

BHP Billiton has shut down its Norwich Park coalmine in Queensland’s Bowen Basin amid a tense battle with three unions over a new enterprise agreement covering about 4000 employees.

Petrohawk swoops on liquids to offset gas slump

11 May 2012 | Angela Macdonald-Smith

PRINT: 11 May 2012 | PAGE 1 |

BHP Billiton’s Petrohawk shale gas unit has managed to mostly offset the effect of slumping US natural gas prices in the March quarter by increasing liquids-rich shale gas production.

The great haul of China

11 May 2012 | Stephen Wyatt

If Chinese data hits forecasts it will cushion the negative trade story, but any shocks will send commodities crashing.

Guard of honour as sun sets on Qld mine

11 May 2012 |

PRINT: 11 May 2012 | PAGE 1 | FED:Guard of honour as Qld mine closes

Miners are set to form a guard of honour for their workmates when they clock off the final shift at a central Queensland coal mine.

Global Mining plots an unlisted future

11 May 2012 | Ruth Liew

PRINT: 11 May 2012 | PAGE 27 | Global Mining plots an unlisted future

The $180 million listed investment company Global Mining Investments is looking to de-list from the Australian Securities Exchange after failing to narrow the discount between its share price and asset value.

Barnett frees land for Anketell Point

10 May 2012 | Ayesha de Kretser

PRINT: 11 May 2012 | PAGE 1 | Barnett frees land for Anketell Point

West Australian premier Colin Barnett says the state will move swiftly to ensure all market players can access ports, after the government moved to free up land for Anketell Point Port development.

BHP to merge stainless steel, aluminium divisions

09 May 2012 | Dan Hall

PRINT: 10 May 2012 | PAGE 30 | BHP to merge divisions in Perth

Diversified miner BHP Billiton has revealed a major restructure of its stainless steel and aluminium divisions as the sector struggles under a high Australian dollar, rising energy costs and low metal prices.

FWA forces BHP to detail Norwich Park plans

09 May 2012 | Dan Hall

PRINT: 10 May 2012 | PAGE 4 | BHP ordered to reveal plans

Mining giant BHP Billiton has been forced to provide more information to workers impacted by the closure of the loss-making Norwich Park mine following orders from Fair Work Australia.

Ballot brings Bowen Basin blues

09 May 2012 | Matthew Stevens

PRINT: 09 May 2012 | PAGE 1 | Ballot brings Bowen Basin blues

The seeds of a new Bowen barney have been sown with unions readying a protected action ballot of workers at Wesfarmers’ Curragh mine.

Company briefs

09 May 2012 |

OneSteel shareholders have voted overwhelmingly for the company to change its name to Arrium.

Atlas sure of immunity from port capacity cut

09 May 2012 | Ayesha de Kretser

PRINT: 09 May 2012 | PAGE 1 | Atlas sure of immunity from cut

Atlas Iron is confident the West Australian government will ensure its export allocation at Port Hedland is not squeezed as tensions simmer in the Pilbara over rail infrastructure developments.

Port Hedland outer harbour plan founders

09 May 2012 |

PRINT: 09 May 2012 | PAGE 1 | Expansion plan founders as BHP ponders dredge cost

Jostling for space in the congested inner harbour at Port Hedland becomes even more important for the companies dependent on public user access as the threat that BHP Billiton won’t cough up the billions of dollars needed to dredge the outer harbour looms large.

Swan’s Stimulus: Part II – Rated PG

08 May 2012 | Tony Boyd

Retailers and gambling venues look like being the early business winners from the federal budget.

China eyes pricing upper hand with iron ore platform

08 May 2012 |

PRINT: 08 May 2012 | PAGE 1 | RPT-China eyes upper hand in pricing with iron ore platform

China's first physical iron ore trading platform began trading on Tuesday, helping the world's biggest buyer of the commodity boost its price-setting influence.

BHP brings Maxwell into energy coal

08 May 2012 | Ayesha De Kretser

PRINT: 08 May 2012 | PAGE 1 |

Ian Maxwell will become BHP Billiton’s new president of energy coal from July 1, after Jimmy Wilson took over from the recently resigned Ian Ashby as head of iron ore operations.

Austerity? Non, merci

08 May 2012 | Stephen Wyatt

PRINT: 08 May 2012 | PAGE 1 |

Risk assets, including commodities, showed extraordinary resilience as the euro-debt crisis exploded back to life.

BHP gets gas over US assets

08 May 2012 | Tony Boyd

PRINT: 08 May 2012 | PAGE 56 | BHP gets gas over US assets

BHP chief Marius Kloppers and chairman Jac Nasser look like they will escape the embarrassment of another huge write-down but that’s unlikely to ease the pressure on them.

BHP to fund deep-water WA drill

07 May 2012 | Angela Macdonald-Smith

BHP Billiton will pay up to 100 per cent of the drilling of a highly prospective deep-water exploration well off Western Australia after forging a farm-in deal with venture operator Woodside Petroleum.

Stocks to fall after weak US jobs, EU elections

07 May 2012 | Brendon Lau

Before the Bell – The ASX is set for heavy falls on Monday after a weak US jobs report on Friday and as investors digest a socialist victory in the French presidential election and gains for anti-austerity candidates in Greece ■ Dow down 1.3pc ■ SPI down 51pts ■ $A at $US1.012.

Posco set for new peek at OneSteel

07 May 2012 | Sarah Thompson

PRINT: 07 May 2012 | PAGE 16 | Posco set for new peek at OneSteel

South Korean steel heavyweight Posco has made no secret of its desire to break free from the grasp of BHP Billiton when it comes to securing its iron ore and coking coal needs.

Big stick is out to beat bribery

07 May 2012 | Jenny Wiggins

PRINT: 07 May 2012 | PAGE 1 | Big stick is out to beat bribery

Leading contracting companies with foreign operations have stepped up efforts to eliminate facilitation payments following warnings from crime authorities.

United on threat of high costs

07 May 2012 | Perry Williams

PRINT: 07 May 2012 | PAGE 3 | United on threat of high costs to investments

Williams | Tom Albanese and Frank Chapman are chalk and cheese in the resources industry, but they are united on one thing.

Majors in new gas search

07 May 2012 | Perry Williams

PRINT: 07 May 2012 | PAGE 1 | Majors in new gas search

Woodside Petroleum, BHP Billiton and US oil producer Hess Corporation have won the rights to drill for new oil and gas discoveries off Western Australia which may help feed a clutch of planned LNG expansions.

Weatherill aligns with miners on diesel rebate

07 May 2012 | Ayesha de Kretser

PRINT: 07 May 2012 | PAGE 2 | Weatherill aligns with miners

South Australian Premier Jay Weatherill has joined the throng of miners petitioning federal Treasurer Wayne Swan not to scrap the 32¢ a litre diesel fuel rebate ahead of Tuesday’s budget.

Labor leadership talk helps cloud subdued outlook

05 May 2012 | Jenny Wiggins

PRINT: 05 May 2012 | PAGE 2 | Subdued outlook hangs over Labor turmoil

The future of Julia Gillard was top of chief executives’ minds as well as the darkening financial outlook at Macquarie’s annual conference in Sydney this week.

Coalmining costs mean it’s no cash cow

05 May 2012 | Perry Williams and Matthew Cranston

PRINT: 05 May 2012 | PAGE 1 | Costs of coalmining mean it’s no cash cow

Rio Tinto boss Tom Albanese thinks it’s time to lift the lid on some misconceptions. Rio is increasingly finding that on Australia’s east coast, coal projects are failing to stack up with rival developments around the globe.

Hardie ruling can’t be ignored

05 May 2012 | Tony Boyd

PRINT: 05 May 2012 | PAGE 1 | Hardie ruling can’t be ignored

In delivering its James Hardie ruling the High Court drew a comparison with those who sit on the boards of community organisations, sporting clubs, religious groups, trade unions and political parties.

Carbon tax to hit fewer than expected

04 May 2012 | Marcus Priest

PRINT: 04 May 2012 | PAGE 1 | Tax hits fewer than expected

Just over 330 companies, including BHP, Adelaide Brighton, Anglo Coal and Boral, are likely to be covered by the carbon price scheme, far fewer than the 500 previously predicted by the government.

Goose running out of feathers

04 May 2012 | Matthew Stevens

PRINT: 04 May 2012 | PAGE 1 | Goose running out of feathers

The miners keep telling our leaders that phase one of the boom is over. The only way forward then is a big step up in volume.

Heavyweight pair punts on equities

04 May 2012 | Joanna Heath

PRINT: 04 May 2012 | PAGE 3 | Heavyweights punt on equities

Two of Australia’s most highly regarded investors have defended equities as the asset class of choice against fixed interest, arguing that bonds are overvalued and risky.

Miners say there’s plenty of fish in the sea

04 May 2012 | Ayesha de

PRINT: 04 May 2012 | PAGE 2 | Plenty of fish in the mining sea

As regulations and labour prices rise in Australia, miners say costs are starting to outweigh the sovereign risk posed by competing nations.

Santos chairman presses for IR action

04 May 2012 | Perry Williams

PRINT: 04 May 2012 | PAGE 19 | Chairman presses for IR action

Peter Coates has criticised the federal government for its handling of industrial relations and called for Labor to act in next week’s budget.

Rio ponders future of Mt Pleasant coal

04 May 2012 | Perry Williams

PRINT: 04 May 2012 | PAGE 20 | Rio ponders future of Mt Pleasant coal

Global miner Rio Tinto has confirmed it is weighing up the future of its $2 billion Mount Pleasant coal mine in NSW’s Hunter Valley as it reassesses its capital investment plans.

Union says BHP plans new workforce

04 May 2012 | Dan Hall

PRINT: 04 May 2012 | PAGE 9 | Union says BHP plans new workforce

The union leader at the centre of a dispute between the world’s largest coking coal producer and three mining unions has stepped up his campaign against the producer, BHP Billiton Mitsubishi Alliance, before a secret ballot on a new enterprise agreement.

Strategy will pay dividends, says BHP

03 May 2012 | Ayesha de Kretser

PRINT: 03 May 2012 | PAGE 2 | Strategy pays dividends: BHP

BHP has defended its capital management record and stresses that its spending plans will be “sequenced” and “disciplined”, following criticism that it is spending too much and returning too little.

Soaring costs trigger Rio coal retreat

03 May 2012 | Michael Smith

PRINT: 03 May 2012 | PAGE 1 | Soaring costs

Rio Tinto is reviewing its coal expansion plans as soaring capital costs and investor pressure to return more cash force global miners to make more profitable iron ore projects a priority.

Coalminers fear a black budget

03 May 2012 | Tony Boyd

PRINT: 03 May 2012 | PAGE 72 | Coalminers fear a black budget

Coalminers have a sense of foreboding about next week’s federal budget amid expectations they‘ll be soft targets to help turn a $40 billion deficit into a small surplus.

Leighton Contractors wins $604m contract

02 May 2012 |

Leighton Holdings has won a $604 million, three-year, contract for mining services at the Peak Downs Mine in central Queensland.

Woodside boss stands ground on James Price

02 May 2012 | Luke Forrestal

PRINT: 03 May 2012 | PAGE 1 | Woodside boss stands ground on James Price

Peter Coleman intends to complete Woodside’s assessment of processing gas from its Browse LNG project through a new gas hub at James Price Point, despite joint-venture partners supporting another option.

Fortescue’s Pilbara love story

02 May 2012 | Jennifer Hewett

PRINT: 02 May 2012 | PAGE 1 | Fortescue’s Pilbara love story

In remote WA, one mining company does things its own way. And Andrew Forrest sees this unique culture as the main reason Fortescue Metals is consistently underestimated.

Table talk: dinner with the PM

02 May 2012 | Andrew Cleary

PRINT: 02 May 2012 | PAGE 1 | Table talk: dinner with the PM

Julia Gillard rallied business leaders from across the spectrum to a private dinner in Sydney last night as the Prime Minister attempts to shore up shaky support in the corporate sector ahead of next week’s budget.

Woodside deal makes a point

01 May 2012 | Perry Williams

PRINT: 02 May 2012 | PAGE 1 | Woodside deal makes a point

Woodside Petroleum is set for a showdown with its venture partners on developing gas from its $30 billion Browse development at the controversial James Price Point site near Broome.

Palmer gilds Lilley

01 May 2012 | Jennifer Hewett

PRINT: 01 May 2012 | PAGE 2 | Clive gilds Lilley

Hewett | Whenever Wayne Swan needs a cardboard cut-out to play the bombastic and greedy mining billionaire, he can always rely on Clive Palmer.

BHP miners start voting on pay dispute

27 April 2012 |

Workers at seven central Queensland mines will start voting on Friday on a new workplace agreement with industry giant BHP.

QR National confirms interest in east Pilbara

27 April 2012 | Jenny Wiggins

PRINT: 27 April 2012 | PAGE 1 | QR confirms its interest in east Pilbara

QR National has signalled its interest in supporting the development of Western Australia’s ports after striking a deal with Atlas Iron to try to establish a rail network in the Pilbara.

Rail push bypasses legal debate

27 April 2012 | Matthew Stevens

PRINT: 27 April 2012 | PAGE 2 | Rail push bypasses legal debate

Confirmation of a plan to build a new open access rail system in the Pilbara confirms the flawed logic that launched an eight-year legal debate.

Shell looks at links to rival LNG projects

27 April 2012 | Perry Williams

PRINT: 27 April 2012 | PAGE 15 | Shell looks at links to rival LNG projects

Royal Dutch Shell and PetroChina are considering feeding gas resources from their Arrow Energy venture into rival liquefied natural gas projects.

Steel demand up, but iron ore prices a worry

27 April 2012 | Ayesha de Kretser

PRINT: 27 April 2012 | PAGE 17 | Steel demand up, but iron ore prices a worry

De Kretser | Iron ore miners are confident in the outlook for their wares but falling prices could stymie enthusiasm among equity markets.

Rio gets cracking to add 6000 recruits

27 April 2012 | Ayesha de Kretser

PRINT: 27 April 2012 | PAGE 15 | Rio gets cracking to add 6000 recruits

Rio Tinto is embarking on one of the biggest recruitment drives in Australia’s history as a looming skills shortage in the resources sector prompts action from federal Treasurer Wayne Swan on immigration.

Vale profit drops 44pc for quarter

26 April 2012 | Kevin Chinnery

Brazil’s Vale, the chief mining rival to BHP Billiton and Rio Tinto, has reported a 44 per cent drop in first quarter profit after iron ore prices declined and heavy rain hit its mine production.

UK reports have Rio playing in the sandpit again

26 April 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 26 April 2012 | PAGE 1 | UK reports have Rio playing in the sandpit again

The speculation about a Rio Tinto takeover bid for mineral sands miner Kenmare Resources doesn’t look like dying down.

Rio in the running for mineral sands play

24 April 2012 | Sarah Thompson and Anthony Macdonald

Rio Tinto might be looking to boost its presence in the mineral sands space, with reports out of London (albeit citing “traders”) that the Anglo-Australian miner is preparing to table a bid for Mozambique-focused Kenmare Resources.

Company briefs

24 April 2012 |

PRINT: 24 April 2012 | PAGE 18 |

BHP Billiton has agreed to buy five exploration tenements near its Olympic Dam mine in South Australia from Minotaur Resources for $10 million cash following a competitive bidding process. As part of the agreement, Toro Energy has agreed to cancel its rights to uranium minerals in three of the tenements in return for a $500,000 payment from Minotaur.

Rio talks up WA expansion plans

23 April 2012 | Jamie Freed

PRINT: 23 April 2012 | PAGE 17 | Rio talks up WA expansion plans

Rio Tinto’s iron ore expansion options in Western Australia are the most attractive in the world in terms of the returns generated from the capital employed, says chairman Jan du Plessis.

Deal done, then Rudd rolled

23 April 2012 | Jennifer Hewett

PRINT: 23 April 2012 | PAGE 1 | Deal done, Rudd rolled

The top miners’ key concerns had already been resolved in talks between the miners and the Treasurer before Kevin Rudd was rolled by his deputy.

Forrest sticks to his guns on events in June 2010

21 April 2012 | Jennifer Hewett

PRINT: 21 April 2012 | PAGE 55 | Forrest sticks to his guns on events in June 2010

Andrew Forrest has lived his large life and earned his even larger fortune by challenging established institutions and practices.

Mining royalties not a tax

20 April 2012 | Vic Carroll

PRINT: 20 April 2012 | PAGE 47 | Mining royalties not a tax

One of the mining industry’s great cons is to treat royalties as taxes.

Reluctant BHP joins CBMX

20 April 2012 | Jamie Freed

PRINT: 20 April 2012 | PAGE 22 | Reluctant BHP joins CBMX

Freed | When it comes to China, BHP Billiton has never gone to the lengths of some rival iron ore miners to stay in the good graces of its largest customer.

National briefs

20 April 2012 |

PRINT: 20 April 2012 | PAGE 12 |

Coking coal producer BHP Billiton Mitsubishi Alliance (BMA) has defended its communication with the Construction, Forestry, Mining and Energy Union in the lead-up to closing its troubled Norwich Park coalmine in Queensland’s Bowen Basin.

Kloppers pours cold water on Forrest mining tax claim

20 April 2012 | Jennifer Hewett

PRINT: 20 April 2012 | PAGE 11 | BHP boss begs to differ with Forrest

BHP Billiton and Rio Tinto have rejected Andrew Forrest’s claim that they were involved in negotiating a secret deal on a revised mining tax with Julia Gillard before she challenged for the leadership in 2010.

BHP Billiton (BHP)

19 April 2012 | Brendon Lau

Citigroup has cut its price target on BHP Billiton by $2 to $43 a share following its latest production report, which came in slightly below expectations, but the broker has kept its “buy” rating on the stock.

Fortescue banks on diesel fuel rebate to keep down costs

19 April 2012 | Jamie Freed

PRINT: 20 April 2012 | PAGE 1 | Fortescue banks on diesel fuel rebate

Updated | The potential removal of the diesel rebate in the budget would add more than $US2 a tonne to Fortescue Metals Group’s iron ore production costs, which it is already battling to control as a result of a high Australian dollar and higher strip ratios than its peers.

Vale’s iron ore production falls 2.2pc

19 April 2012 | Juan Pablo Spinetto

PRINT: 19 April 2012 | PAGE 30 | Vale’s iron ore production falls 2.2pc

Vale, the world’s second largest mining company, says first quarter iron ore production dropped 2.2 per cent after heavy rains curtailed operations in Brazil.

Nod for Texan exports threatens local LNG ambitions

19 April 2012 | Perry Williams

PRINT: 19 April 2012 | PAGE 25 | Texan exports threaten local ambitions

The US has moved a step closer to its first LNG exports in a move which may ultimately challenge Australia’s ambitions in the sector.

Forrest’s proposal gave us a chance, say miners

19 April 2012 | Luke Forrestal

PRINT: 19 April 2012 | PAGE 14 | Lost chance for general discussion

Miners outside of the big three would have been open to the tax amendments devised by Andrew Forrest and Kevin Rudd in the lead-up to Mr Rudd’s spectacular ousting as Prime Minister in 2010.

Forrest steps up attack on the PM

19 April 2012 | Katie Walsh, Laura Tingle

PRINT: 19 April 2012 | PAGE 14 | Twiggy builds attack on PM

Andrew Forrest last night deepened his revelations on mining tax deals forged before the June 2010 leadership spill, saying Julia Gillard had her own deal with the big miners under way well before the drama.

Intrigue over hirings at BHP mine

19 April 2012 | Mark Skulley

PRINT: 19 April 2012 | PAGE 10 | Intrigue over BHP hirings

BHP Billiton has denied union allegations that a labour hire firm is secretly engaging workers to re-open the mothballed Norwich park coal mine in Queensland.

This tax won’t bite

19 April 2012 | Jennifer Hewett

PRINT: 19 April 2012 | PAGE 2 | This tax won’t bite

Hewett | So what if you throw a big tax and no one much turns up? That’s looking ever more likely to be the fate of the new mining tax.

BHP wary about new Indonesia mining rules

18 April 2012 |

BHP Billiton says it will wait and see what impact controversial new mining regulations recently announced by the Indonesian government will have on its operations across the archipelago.

Big decisions loom for BHP

18 April 2012 | Michael smith

BHP Billiton’s March-quarter numbers met expectations but they offer little comfort to investors in the global miner, which faces tough decisions on capital spending and its Queensland’s labour force.

BHP coking coal output down, stocks low

18 April 2012 | Jamie Freed

PRINT: 18 April 2012 | PAGE 25 | Coking coal output down, stocks low

BHP Billiton has warned that industrial action at its Queensland coal operations has severely depleted inventories and could have a significant impact on future quarters.

BHP quarterly solid: brokers

18 April 2012 | Sarah Thompson and Anthony Macdonald

BHP has reported solid quarterly production given the March quarter is always impacted by the wet season, says Macquarie Equities.

Vale output hit by rain and production problems

18 April 2012 | Ayesha de Kretser

The world’s biggest iron ore miner, Brazil’s Vale, blamed heavy rains and production problems for a sharp decline in production in the first quarter of 2012 compared with the final quarter of 2011.

US write-down looms for BHP

18 April 2012 | Jamie Freed

PRINT: 19 April 2012 | PAGE 25 | US write-down looms for BHP

BHP Billiton has intensified its focus on drilling in liquids-rich regions of its new onshore US petroleum assets as it tries to combat historically low natural gas prices.

Debt hand comes up trumps for blue chips

PRINT: Capital | 18 April 2012

Opinion | Credit markets point to a return to the era where the world’s 50 largest companies dominated the global corporate landscape.

Glove money

18 April 2012 | Sally Rose

PRINT: 18 April 2012 | PAGE 43 | Glovemoney

There is a widespread double standard at play for Westerners doing business in the developing world: while it is immoral to take bribes, it is sometimes necessary pay them.

Miners fear new tax burden

18 April 2012 | Laura Tingle

PRINT: 18 April 2012 | PAGE 1 | Diggers fear new burden

The mining industry fears it could lose hundreds of millions of dollars in tax breaks, despite Labor’s signals that it will not cut the sector’s exploration and accelerated depreciation concessions.

Rudd’s secret mining tax deal

18 April 2012 | Jennifer Hewett

PRINT: 18 April 2012 | PAGE 1 | Rudd’s secret mining tax deal

The night before Kevin Rudd was rolled as prime minister, he and miner Andrew Forrest had just agreed to transform the resource super profits tax into a radical proposal to revolutionise the delivery of infrastructure in Australia.

Opportunity lost to build Australia

18 April 2012 | Jennifer Hewett

PRINT: 18 April 2012 | PAGE 52 | Opportunity lost to build Australia

Andrew Forrest believes a plan to write off capital expenditure on infrastructure under the original mining tax agreement would have led to roads, schools and hospitals.

IMF warns of lower commodity prices

18 April 2012 | Perry Williams

PRINT: 18 April 2012 | PAGE 10 | IMF bearish on commodities

The International Monetary Fund has added to concerns over the longevity of Australia’s export-driven mining boom after raising doubts over the outlook for commodity prices.

Toyota firing up on redundancies

18 April 2012 | Matthew Stevens

PRINT: 18 April 2012 | PAGE 42 | Toyota firing up on redundancies

The HR community in Australia, particularly in manufacturing’s financially challenged heartlands, will be watching Toyota’s progress with interest.

Telstra: don’t expect too much

18 April 2012 | Michael Smith

PRINT: 18 April 2012 | PAGE 56 | Telstra: don’t expect too much

Telstra shareholders holding out for a big windfall this week would do well to remember that board and management has a reputation for being conservative.

Rio misses iron ore expectations

17 April 2012 | Jamie Freed

PRINT: 18 April 2012 | PAGE 1 | Cyclones stop Rio hitting targets

Rio Tinto has reported lower than expected shipments of iron ore in the March quarter as cyclones in the Pilbara hampered its ability to ship as much as it produced.

UK backs fracking to unlock shale gas wealth

17 April 2012 | Elise Shaw

UK ministers have been advised to allow the controversial practice of fracking for shale gas to be extended in Britain, despite it being held responsible for two earthquakes and serious doubts about safety.

Dow Jones rises on solid US retail data

17 April 2012 | Brendon Lau

Before the Bell | An unexpected shopping blitz by American consumers has helped the Dow Jones to a 0.6pc gain, although the S&P 500 ended flat and a 4pc fall in Apple led the Nasdaq down 0.8pc ■ SPI up 9pts.

Fast profits flow from short selling

17 April 2012 | Jane Searle

PRINT: 17 April 2012 | PAGE 28 | Fast profits flow from short selling

Poor housing credit growth and expensive stock valuations are themes driving the most shorted companies – those in the mining and banking sectors – by dollar value on the market this month.

Miners urged to increase dividends

17 April 2012 | Brendon Lau

PRINT: 17 April 2012 | PAGE 3 | Miners urged to raise dividends

Most fund managers would like to see a higher dividend or capital return over the shorter term from mining companies enjoying booming demand for resources.

BHP has Olympic hurdles to overcome

17 April 2012 | Jamie Freed

PRINT: 17 April 2012 | PAGE 5 | BHP has Olympic hurdles to overcome

The South Australian government says it is not inclined to grant BHP Billiton an extension on an approvals expiring in December that cover the $US20 billion expansion of the Olympic Dam mine at this stage.

BHP’s Olympic dam decision

16 April 2012 | Brigitte Dwyer

PRINT: 16 April 2012 | PAGE 51 | BHP’s Olympic dam

BHP’s proposed expansion of Olympic Dam will provide employment and a future for generations of South Australians (“BHP hits a hard road”, April 14-15). Instead, the company is facing pressure from investors to halt the mega-project and distribute profits.

Price slide may be end of Olympic Dam

16 April 2012 | Stephen Wyatt

PRINT: 16 April 2012 | PAGE 32 | Price slide could spell end to Olympic Dam

Will commodities over the rest of 2012 slide a lot lower, as in 2011, or turn sharply higher and rally, as in 2010 and indeed 2009, or stagnate?

Banks have their backers

16 April 2012 | Bianca Hartge-Hazelman

PRINT: 16 April 2012 | PAGE 20 | Banks have their backers

At a time when many investors are cautious about the major banks, Goldman Sach’s Katie Hudson notes they have proved rather resilient.

Where’s the boom gone?

14 April 2012 | Perry Williams

PRINT: 14 April 2012 | PAGE 43 | Where’s the boom gone?

ust over a month after Treasurer Wayne Swan inflamed miners with his attack on the “billionaires club”, resource chiefs are warning of issues beginning to cripple marginal production.

BHP hits a hard road

14 April 2012 | Jamie Freed

PRINT: 14 April 2012 | PAGE 43 | BHP hits A hard road

BHP has its finger on the pause button, threatening up to $US50 billion in spending on some of the biggest mining projects in the world, including Olympic Dam. How has it come to this?

Foreign depository receipts may list on ASX

14 April 2012 | Brendon Lau

PRINT: 14 April 2012 | PAGE 23 | Foreign receipts may list on ASX

Plans to quote international stocks on the local exchange could lead to greater concentration of big companies such as Rio Tinto and BHP Billiton on key indices, according to Goldman Sachs.

Between a rock and an impasse

14 April 2012 | Matthew Stevens

PRINT: 14 April 2012 | PAGE 17 | Between a rock and an impasse

Stevens | Next Friday Fair Work Australia will conclude three days of hearings that will better define its understanding of the meaning and implications of the word “impasse”.

Gunns rethink fans wider debate

14 April 2012 | Carrie LaFrenz and Lucille Keen

PRINT: 14 April 2012 | PAGE 8 | Gunns rethink fans wider debate

Jarrod Ritchie chief executive of Launceston-based poppy export company TPI Enterprises says doing business in Tasmania is great but also has some large drawbacks.

UGL wins $370m in new projects

13 April 2012 |

Engineering and property services company UGL has been awarded about $370 million of new projects across Australia, including $270 million of resources projects.

Miners dig themselves into costly hole

13 April 2012 |

Rio Tinto and other big miners preparing to meet shareholders over the coming weeks will face tough questions over ever larger and more capital intensive projects when robust commodity prices have cooled.

BMA faces fresh Fair Work claims

13 April 2012 | Dan Hall

The world’s largest coking coal producer, BHP Billiton Mitsubishi Alliance, faces fresh claims to the industrial umpire that it is refusing to bargain with union employees in good faith.

Why miners struck out at BHP

13 April 2012 | Jamie Freed

PRINT: 13 April 2012 | PAGE 21 | BHP can weather strike storm

Freed | What if nearly 4000 unionised workers walked off the job at BMA mines and investors barely batted an eyelid?

BHP defends closure of ‘loss-making’ mine

12 April 2012 | Fleur Anderson

PRINT: 12 April 2012 | PAGE 8 | Kloppers defends closure

BHP Billiton chief executive Marius Kloppers has defended the coal producer’s decision to shut a the Norwich Park mine in Queensland’s Bowen Basin, saying the company holds a long-standing policy of not running facilities that lose money.