Aug. 17, 2012, 3:57 PMSaskatchewan's economy minister expects BHP Billiton (BHP -0.2%) to proceed with construction of its potash mine, and does not expect BHP to replicate Vale's (VALE) delay of its own project in the Canadian province. BHP’s mine at Jansen would be the world’s largest potash mine, capable of producing 8M metric tons annually, but analysts have suggested BHP is weighing a delay. | Comment!
Aug. 3, 2012, 7:23 AM
Aug. 2, 2012, 7:28 AMBHP Billiton is set to postpone a $20B port expansion plan in Australia, according to a memo from the company's iron ore chief: The resources industry is "facing numerous challenges including substantial capital and operating cost escalation and decreasing commodity prices." Mining contractors in Perth have reportedly already started laying off workers. | Comment!
Jul. 30, 2012, 4:01 PMThe price of iron ore catches with Shanghai rebar prices, falling below the $120/ton mark. $120 has importance as it's thought to be the level below which Chinese miners will stop producing the stuff, and hopefully - for companies like BPH, RIO, and VALE - bring about a rebound in the price. (see also) | Comment!
Jul. 29, 2012, 9:49 PM"The period of huge cash flows from very high commodity prices will be coming to an end," says Australian Foundation Investment CEO Ross Barker, urging miners it owns like BHP and RIO to cut back on planned investments. His comments come amid reports BHP is going to delay for two years moving forward with its $33B Olympic Dam project. (see also) | 3 Comments
Jul. 25, 2012, 8:22 AMIron ore prices are set to fall even further, says Nomura's Matthew Cross, as they catch up with the steep decline in Shanghai rebar prices. The last time rebar was this cheap, iron ore was about 15% lower, he says. Watch $120/ton - a possible floor for iron ore as this is the level at which Chinese producers have in the past begun to slash production. | Comment!
Jul. 19, 2012, 10:54 PMThe price of iron ore at Tianjin Port falls to $125.60/metric ton, a new low for 2012 as Chinese inventories hit a record high. Even as demand shrinks, producers continue to increase output, both RIO and BHP digging up record amounts this year, and BHP planning on nearly a 40% increase by 2014. | Comment!
Jul. 19, 2012, 11:16 AMFew expect volatility in BHP Billiton (BHP +2.4%) shares to end soon, as analysts continue to trim earnings forecasts for BHP and its peers. “The prospect of further declines in commodity prices on a weakening macro outlook is likely to limit near-term share price performance,” UBS wrote after BHP's production report. Citi sees capex cuts if commodities weaken further. | Comment!
Jul. 11, 2012, 8:42 AMSomething to check into for buy-and-hold investors in BHP (the ADRs for BHP Billiton's Australian listing), are the ADRs for the London listing (BBL). They consistently trade at a lower price and higher yield than BHP. Why? Perhaps better liquidity for BHP and its more prominent spot in Australian indices (and the hearts of Aussie investors). | Comment!
Jun. 29, 2012, 9:16 AMPremarket gainers: STZ +18%. SWHC +13%.
AMPE +12%. NBG +14%. FSIN +13%. PCX +9%. KBH +9%. ING +8%. LXRX +8%. IRE +7%. BBVA +7%. DB +7%. IVN +7%. MTG +7%. ALU +7%. GSS +6%. LNCR +5%. RIO +6%. ATPG +6%. MT +6%. HZNP +6%. SAN +6%. CLNE +6%. STM +6%. CS +6%. BBL +5%. GALE +5%. OREX +7%. SI +5%. VALE +5%. BHP +5%.
Losers: RIMM -14%. NKE -10%. TMH -7%. SPPI -6%. | 1 Comment
BBL vs. ETF Alternatives
Other News & PR