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Wednesday, Oct 17
2012, 8:19 AM
BHP is unlikely to expand its Australian coal business given increasingly tough market...
BHP is unlikely to expand its Australian coal business given increasingly tough market conditions and a slump in commodity prices, CEO Marius Kloppers says. Rising taxes, royalties, a strong Australian dollar and falling productivity mean that "further investment to grow these operations is much less likely,” and it will only operate mines that generate cash and remain profitable. BHP +2.1% premarket.