BHP Billiton will approve projects in a sequence that maximises value, reduces risk and balances short and long term returns, said Alberto Calderon, the miner's chief executive of aluminium, nickel and corporate development.
The company has 22 projects in execution stage, and has the flexibility to sequence investments as the spending associated with these projects decline substantially in the coming years.
“Our plans are framed by our commitment to a solid A credit rating and progressive dividend,” Calderon said in a presentation at the Macquarie Australia Conference in Sydney.
BHP, which has divested numerous operations, said “businesses must earn their right to remain in the portfolio”.
The company will continue to review divestment options and organisational structure, Calderon said.
BHP is confident about the long term growth outlook and fundamentals for key commodities and urbanisation in the developing world, particularly China and India will drive long-term commodity demand, he said.