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BHP Billiton (NYSE:BHP) aims to reduce its annual capex to $15B in the next two to three years...

Jun. 07, 2013 8:58 AM ETBHP Group Limited (BHP) StockBHPBy: Carl Surran, SA News Editor
BHP Billiton (NYSE:BHP) aims to reduce its annual capex to $15B in the next two to three years from an estimated $22B this year and $18B in FY 2014, new CEO Andrew MacKenzie says. The pace of Chinese economic growth may be slower than in previous years, but it's off of a high base and will result in strong demand for the commodities BHP produces, he adds. BHP -2% premarket.

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