COMMENT: When super-cycle poster child BHP Billiton trims its plans...
May 18, 2012 | 07:01 AM
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BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
Last week the company’s two most senior representatives took to stages 8,500 miles apart to spell out why the £92-billion company is putting the brakes on planned spending.
Chairman Jacques Nasser and ceo Marius Kloppers, in Sydney and Miami respectively, said that urbanisation in China will underpin copper and iron ore....
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