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BHP Billiton Limited (BHP)

  • Jun. 24, 2011, 7:46 AM
    BHP is expected to be hit with a series of strikes at several of its Queensland mines next week, on union demands for better pay. Though not on par with Silicon Valley in the 90s, the Australian mining industry is a giant ATM right now - it's surprising not everyone is getting along.
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  • Jun. 21, 2011, 9:36 AM
    Rio Tinto (RIO +2%) exercises its remaining warrants in Ivanhoe Mines (IVN +1.9%) for $502M. The purchase is part of an agreement reached with Ivanhoe in December to take over construction of its Oyu Tolgoi copper and gold mines in Mongolia.
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  • Jun. 21, 2011, 7:19 AM
    Chinese May copper imports drop to a 30 month low, 47% below a year ago and 7% below April, as fabricators choose to draw down inventories instead of bringing in higher priced product. Given the PBOC's monetary tightening, analysts hedge expectations of the usual 2nd half rebound.
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  • Jun. 15, 2011, 8:05 AM
    A 50% fall in Chinese inventories over the past 2 months - from 600K tons to 300K tons - suggests the country will soon have to step up copper imports, giving support to the price. With much of the commodity sector having gotten hit lately, copper has held its own, suggesting this information is priced in.
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  • Jun. 9, 2011, 1:11 PM
    If Chinese property is rolling over, global miners' bet on Chinese demand moving across the page from low left to high right on a steep slope and without interruption will be a loser. After that, shipping, where 40% of the entire dry-bulk industry revolves around moving iron to China.
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  • Jun. 1, 2011, 5:55 AM
    BHP (BHP +0.3%) will register a $580M tax credit after the High Court of Australia decides in favor of the company in its dispute with Australia's taxation office. The tax credit will show up as an exceptional item in its June 2011 fiscal results. (PR)
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  • May. 31, 2011, 10:24 AM
    The latest installment of the BBC's Bubble Trouble series aims at the copper market, where inventory looks to be far higher than bullish analysts will admit. Even something as simple as counting copper in warehouses is a tricky exercise. Banks buying up warehouse firms opens up troubling conflicts of interest.
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  • May. 25, 2011, 8:51 AM
    Yesterday it was Goldman Sachs, today it's JPMorgan hawking the prospects for copper. "Demand is stronger than production," says the head of its global commodities group. Another bullish analyst notes inventories look to be rolling over, a bullish signal for the metal.  JJC +1.5%, FCX +0.9% premarket.
  • May. 23, 2011, 10:47 AM
    Partly behind copper's outsized drop today is a report from China showing its imports of the metal thru April are 29% less than the same period last year. The price of copper could be as vulnerable to a crackdown in its use in financing schemes as to a decline in economic activity. JJC -3.6%.
  • May. 23, 2011, 9:10 AM
    Premarket gainers: CFSG +17%. SQNS +14%. KKD +12%. INVE +12%. BQI +8%.
    Losers: JAMN -13%. CTICD -7%. LNKD -7%. ALU -4%. SDRL -4%. ARUN -4%. RENN -4%. SNE -4%. LNG -4%. ARMH -4%. AIXG -4%. PCBT -3%. ING -3%. STM -3%. SINA -3%. LDK -3%. FCX -3%. BHP -3%. BUD -3%. NBG -3%. SI -3%. NYX -3%. RDS -3%. FRO -3%. STO -3%. BIDU -3%. NOK -3%. RIO -3%. SAP -3%. RIG -3%. CAT -3%. AU -3%. JASO -3%.
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  • May. 20, 2011, 8:26 AM
    "Everyone who has money is rushing to invest in iron ore," says the chief of Baosteel Group, warning of a bubble that will burst as new supplies create oversupply. VALE, RIO, and BHP have $45B slated for new mines, but the biggest losers will be speculative companies that haven't yet started production.
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  • May. 19, 2011, 1:07 PM
    Bonnie Liu from Macquarie estimates 25% of China's Q1 copper imports were due to a scheme firms are using to obtain cheap credit, rather than true end demand. Part of the plan relies on high Shanghai copper prices - if they continue to fall, there will be a lot of folks long the metal needing to get out.
  • May. 18, 2011, 10:48 AM
    Commodities are green across the board, regaining some of their recent lost ground. Of particular note is copper, which jumps $0.14 in less than 24 hours, pulling Freeport McMoRan (FCX +3.5%) off of levels it hasn't seen since October.
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  • May. 18, 2011, 5:19 AM
    BHP (BHP) becomes the second company since the Gulf spill last year to get government approval for a deepwater Gulf exploration plan. The company must now secure drilling permits before moving ahead with the project.
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  • May. 17, 2011, 8:07 AM
    The drop in confidence about base metals prices is reflected in the sharp decline in non-commercial net long positions in copper at the COMEX. A rise in Chinese output may cause worries about a glut, but more troublesome to bulls is the metal's use as a financing conduit.
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  • May. 16, 2011, 9:54 AM
    Copper miners get a boost from a Goldman Sachs report saying the recent drop in copper prices represents a buying opportunity. Goldman believes a drawdown in copper inventories to "critically low levels" is coming in 2012. FCX +1.1%, CU +0.8%.
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Company Description
BHP Billiton Ltd is a natural resources company. The Company is engaged in the producing commodities, including iron ore, metallurgical and energy coal, conventional and unconventional oil and gas, copper, aluminium, manganese, uranium, nickel and silver.