BHP Billiton


Why did BHP and Rio Tinto scrap the WA iron ore joint venture?

Why did BHP Billiton and Rio Tinto scrap their plans to jointly market iron ore from the joint venture between their huge iron ore mines in the Pilbara region? Did negotiations with Chinese mills affect it?

Australia steels itself for more output

Australia will see the biggest percentage increase in steel output next year among major steel-producing countries, as the global economy’s tentative recovery boosts output by more than expected.

Cheap financing eludes Fortescue in China

Fortescue Metal Group has failed in its attempt to exploit the stand off between the Chinese mills and BHP and Rio and get it hands on an estimated $A5.7 billion-$6.9 billion in cheap financing from China.

Don Argus and his journo mates club

Crikey founder Stephen Mayne cuts the heart of outgoing BHP-Billiton’s chairman Don Argus’ sycophantic relationship with Melbourne’s business columnists.

China’s ore tactics eroded from within

China’s attempts to try and crack the iron ore producers is being undermined by soaring world prices, says Glenn Dyer.

Sackwatch 12: Unemployment figures may be staying put for a while…

Crikey continues to track the job-loss carnage.

SackWatch 11: the shutters come down

Unemployment data released this morning has confirmed the suspicion among economists that the April jobless figure was a blip on the radar.

Coverage skips the conflict in the BHP/Rio marriage

Significant issues have been overlooked in the gushy coverage of the BHP/Rio iron-ore joint venture, writes Glenn Dyer.

Rio-BHP carve up isn’t iron-clad just yet

Rio Tinto and BHP Billiton are optimistic if they think their iron ore joint venture will pass muster at the European Commission, writes Glenn Dyer.

Morning Market Report: Chinalco deal off — BHP deal on

The Chinalco deal backflip is the big story of the day, while the market is up 54.

Chinalco’s $19.5bn backflip

Chinalco is set to walk away from a $19.5bn deal with Rio Tinto after weeks of wrangling over the terms of the transaction, and are now considering a joint venture with rival BHP Billiton.

Rio-BHP in Pilbara iron ore tie-up

BHP Billiton and Rio Tinto have decided to pool their Pilbara iron ore assets, spurning state-owned metals monopolist Chinalco.

Chinese ore glut bad news for Canberra

There are signs of growing Chinese Government unease at an oversupply situation developing in the politically and economically sensitive steel sector.

Steelmakers brace for inferno ahead

The Australian and world steel industries are struggling as demand continues to weaken.

Morning Market Report: Financial fails to roar, despite 8% jump overnight

Financials are up 0.5% — not a deafening roar given the 8% jump in financials overnight.

Secret Beijing voting business saves Sir Rod

Rio Tinto’s AGM in Sydney on Monday is all about treating small shareholders with utter contempt.

Morning Market Report: BEN gets crushed

Bendigo and Adelaide Bank (BEN) getting smashed after releasing its Trading Update.

Morning Market Report: OZ Minerals bid from China Minmetals blocked

Market Down 51, the Dow down 147 and BHP in the news. Marcus Padley reports on the highs and lows of today’s markets.

The destruction of Australia’s most productive food bowl

Australia’s most productive agricultural region, the Liverpool Plains in North-West NSW, is under siege from BHP Billiton and coal and gas companies, writes Rosemary Nankivell.

Vote for Chinalco, bring Rio Down Under

The debate leading up to the big Rio Tinto shareholder votes in May will be the most complex, politically charged and serious that we’ve ever seen over foreign investment, writes Stephen Mayne.

Dyer’s business wrap: Glee turns to gall on Wall St

An early whiff of economic joy overnight was quickly dashed when a more convincing trigger failed to eventuate, writes Glenn Dyer.

BHP’s $690 million Rio fees blowout

BHP spent $690 million in advisory fees for a deal that went nowhere, and it’s time to start counting the cost to shareholders, writes Michael Feller.

ArcelorMittal hits the panic button

The world’s biggest steel company has announced it is cutting 9000 jobs as commodity markets continue their contraction, writes Glenn Dyer.

What is BHP hatching with Oz Minerals?

In the wake of BHP Billiton calling off its shotgun marriage to Rio Tinto, the Big Australian is looking at a deal with OZ Minerals, writes Glenn Dyer.

Commentary wrap: BHP bites the bullet, backs down

In an announcement to the ASX last night, BHP Billiton backed away from its $100 billion hostile bid for Rio Tinto. The commentariat weighs in: