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Mijnen,Rio...bhp

1. voda 4 juni 2014 17:06

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   Rio Tinto completed sale interest in Clermont mine
   
   Rio Tinto has completed the sale of its 50.1% interest in the Clermont JV to GS Coal Pty Ltd, a company jointly owned by Glencore and Sumitomo Corporation for USD 1.015 billion.
   
   As per the terms of the sale, Glencore has taken over management of Clermont Mine, which produces thermal coal in central Queensland.
   
   Rio has assured shareholders that the sale of the mine delivers good value for them.
   
   The company said that the transfer demonstrates the group’s focus on strengthening its balance sheet and taking a disciplined approach to allocating capital.
   
   Rio Tinto in a statement said that it remains committed to a long-term future in the Australian coal industry, where its mines provide work for more than 5000 people in Queensland and New South Wales.
   
   The company’s Australian coal operations include the USD 2 billion extension of the Kestrel mine, which was completed last year, as well as studies currently underway into options to extend the life of the Hail Creek mine, subject to future investment decisions.
   
   Source - Strategic Research Institute
   
2. voda 5 juni 2014 17:13

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   USD 80 iron ore price means a lot of miners will disappear - Rio Tinto
   
   Iron ore is down by more than 30% year to date on expectations of a glut on markets just as demand from China, responsible for two-thirds of the 1.2 billion tonne seaborne trade, cools and stockpiles of imported iron ore at Chinese ports are at record highs above 110 million tonnes
   
   Mr Sam Walsh CEO of Rio Tinto said that “The flood of new supply poses less of a threat to the London headquartered miner than its peers. We are the lowest cost producer in the world with costs of USD 20 per ton compared to the price around USD 92 per tonne, I think we’ll be OK. I don’t think we’re going to go down to USD 80 or else a lot of my friendly competitors are going to disappear.”
   
   Mr Walsh said that “I think that USD 80 is too low, I suspect a level somewhere north of USD 100 is probably more realistic. We are confident with our projections that as we go forward the expansions that we’re making will be justified, they will be required by the world.”
   
   Goldman Sachs has recently predicted that global supplies of iron ore are set to exceed demand by 175 million tonnes next year as top producers Vale, Rio Tinto and BHP Billiton continue to increase capacity,
   
   Source - Mining.com
   
   
3. voda 5 juni 2014 17:15

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   BHP Billiton to cut more coal jobs in Illawarra
   
   It is reported that BHP Billiton to cut a number of coal jobs in the Illawarra, creating another blow for the region’s mining industry.
   
   According to sources close to the situation BHP Billiton is preparing to cut 500 jobs from across three coal mines in the Illawarra region.
   
   However, it is understood that while firm figures cannot be given for this latest round of redundancies, the figure is not near this high number.
   
   What is known is that the jobs will be shed from the company’s Appin, Westcliff and Dendrobium operations.
   
   A spokesperson said that "In April Illawarra Coal announced it was undertaking an Organisational Review which may result in changes across the business."
   
   Spokesperson said that "This review will be concluded by 30 June 2014. We continue to consult with our employees on the details."
   
   The news comes as the Wollongong Coal shed 142 jobs at its nearby Wongawilli and Russell Vale mines last week.
   
   Glencore also said that plans to cut 40 jobs from Tahmoor mine.
   
   Source - www.miningaustralia.com
   
   
4. voda 6 juni 2014 20:55

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   Rio Tinto CEO Mr Sam Walsh upbeat on price rebound to USD 100 levels
   
   The Australian reported that Mr Sam Walsh CEO of Rio Tinto said that iron ore prices are likely to stabilise at above USD 100 per tonne and that analysts forecasting sustained USD 80 prices are being too pessimistic.
   
   Mr Walsh said that “One third slump in prices this year was unlikely to be sustained because lower prices would see unprofitable mines shut down. When we saw prices around USD 80 a year and a half ago, we saw a number of people come out of the market; domestic supply in China, Africa and some in Australia. I think USD 80 is too low. I suspect a level north of USD 100 is probably more realistic.”
   
   Mr Walsh said that “If iron ore prices continue to fall, Rio’s mines, which have cash costs of about USD 20 a tonne, meant the company would be fine. I don’t think we’re going to go down to USD 80 or else a lot of my friendly competitors are going to disappear.”
   
   The comments are in line with those of Mr Andrew Forrest chairman of Fortescue Metals, Mr Ryan Stokes executive director of Seven Group Holdings and Mr Andrew Michelmore chief of MMG at the Australia in China’s Century conference in Melbourne last week, when they said slumping iron ore prices were unlikely to be sustained. But they are at odds with many analysts and fund managers, who believe steadily increasing supply from Rio, Fortescue and BHP Billiton will not be soaked up by the market and will weigh on prices. Mr Mark Pervan commodity research head of ANZ said that “Sentiment is particularly negative with weak cyclic factors (rising supply and falling demand) coinciding with weak structural developments (crackdown on inefficient high cost iron ore and steel capacity) to fuel heavy shorting activity. The market has overreacted, as it often has in the past, but picking the bottom is like catching a falling knife as speculators take over the market.”
   
   Source - The Australian.com
   
5. voda 6 juni 2014 20:55

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   BHP Billiton cuts 100 staff from iron ore business
   
   SMH reported that mining giant BHP Billiton has cut about 100 staff from its iron ore division headquarters in Perth.
   
   Some of the workers affected were involved in projects that have wound down and the company has also been reducing costs as part of a focus on improving productivity. That focus has been brought on by falling commodity prices and high capital costs.
   
   BHP is the world's largest diversified resources company and third largest iron ore producer for export.
   
   A spokeswoman said that BHP regularly reviews its iron ore business to ensure it operates as efficiently as possible. This includes reviewing the size and structure of our workforce to ensure it supports the delivery of our productivity agenda. We have been open with our employees about the work being done to improve productivity.
   
   She said that BHP would assist those who have lost their job, and would seek to find them positions elsewhere in the business where possible.
   
   Source - SMH.com
   
6. voda 7 juni 2014 16:37

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   BHP Billiton admits that iron ore expansion was too fast
   
   Sydney Morning Herald reported that BHP Billiton expanded iron ore production too rapidly, causing the Anglo Australian miner to overlook the underlying growth of its overall business.
   
   However, Mr Andrew Mackenzie CEO of BHP Billiton said that despite the iron ore market facing temporary overcapacity, there was enough demand coming back from China and elsewhere to justify the firm's capacity increase.
   
   Mr Mackenzie said that "We don't quite see the case for the scale of investment we saw in last 10 years. But the base business we built is going to be a strong bedrock for decades to come."
   
   Mr Mackenzie said that “BHP's low production costs would make it easier for the firm to weather any downturn. We are very strongly competitive at prices much lower than today's prices. Crackdown on pollution has forced local steel mills to turn to higher quality material from Australia at the expense of poorer grade supplies from domestic mines and elsewhere.”
   
   Global miners, including BHP, Anglo Australian rival Rio Tinto and Brazil's Vale, have all banked on a sustained increase in iron ore demand from China, ramping up capacity and boosting available seaborne supplies. But a slowdown in China's economic growth to its weakest in 23 years, which has coincided with a surge in new iron ore supplies has sparked warnings of a global oversupply and long-term depressed prices.
   
   BHP, the world's third biggest producer of the steelmaking raw material behind Vale and Rio Tinto, is on track to raise its total annual production to 260 million tonne to 270 million tonnes, up from a planned 217 million tonnes in 2014.
   
   Source – SMH.com
   
7. voda 7 juni 2014 16:43

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   China steel production to rise through urbanization
   
   Bloomberg reported that BHP Billiton Limited sees steel production in China increasing to 1.1 billion tonnes in the next 10 years as urban development drives long term demand.
   
   Mr Andrew Mackenzie CEO of BHP Billiton said that “China’s urbanization has a long way to run and that is going to require a lot of steel. China produced 779 million tonnes of steel last year.”
   
   China’s Premier Mr Li Keqiang last month called on regional authorities to help stabilize expansion as the nation seeks to meet its economic growth goal of about 7.5%. The world’s second largest economy is projected to grow 7.3% this year, which would be the weakest pace since 1990.
   
   Mr Mackenzie said that “There’s a bit of overcapacity in the property market, which probably led to temporary softening in the demand growth for steel. Hopefully there will be renewed growth, particularly growth in the way of making more use of high quality, low cost iron ore and metallurgical coal produced by Australia. We are ready for that.”
   
   BHP, based in Melbourne raised its full year iron ore output guidance in April to 217 million tonne while Rio Tinto Group posted record Q1 output, swelling supply.
   
   Iron ore, a key steelmaking ingredient, had its sixth straight monthly decline in May, the longest losing streak on record with supplies rising from Australia and Brazil just as demand growth in China cools. Prices may average USD 109 per tonne in 2014 and USD 80 next year.
   
   Mr Mackenzie said that “We probably don’t see the case for quite the scale of investments in growing our iron ore and our metallurgical coal business like we did in the last 10 years.”
   
   Mr Michiel Hovers BHP’s VP for iron ore marketing said that “Demand for iron ore and other commodities needed in new urbanization may be driven by India and South East Asian nations to 2030 as China’s growth moderates. Of the 1.2 billion people forecast to move from rural areas to cities in that period, China will probably account for 240 million.
   
   Mr Mackenzie said that “China is in a transition from an infrastructure driven economy to a consumer economy. There will be short-term volatilities, but longer term things are looking pretty positive in the way they are able to handle this transition.”
   
   Source - Bloomberg
   
8. voda 10 juni 2014 16:26

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   Glencore signs USD 15.3 billion revolving credit facilities
   
   Glencore plc announced the signing of revolving credit facilities for a total amount of USD 15.3 billion.
   
   The Facilities were initially launched at USD 15 billion and closed substantially oversubscribed, raising in excess of USD 17.5 billion, due to strong support from Glencore’s broad group of relationship banks. A total of 69 banks have committed to the Facilities, including 33 Mandated Lead Arrangers and Bookrunners.
   
   The transactions refinance Glencore’s USD 12,990 million one year and three year revolving credit facilities signed in June 2013 (with the 3-year tranche being repaid and cancelled) and amend & extend the USD 4,350 million 5 year revolving credit facility also signed in June 2013.
   
   The new and amended facilities are for general corporate purposes, comprising:
   1. A USD 8.7 billion 12 month revolving credit facility with 12 month term out option and a 12 month extension option
   2. A USD 6.6 billion 5 year revolving credit facility with two 12 month extension options.
   
   BNP Paribas, Citigroup Global Markets Limited, ING Bank NV and UniCredit Bank AG were the Active Bookrunners in the syndication of the Facilities.
   
   Mr Steven Kalmin CFO of Glencore plc said that "The strong response from Glencore’s bank group in this syndication enabled us to achieve all our main goals for this new financing. We have secured sufficient funding for working capital and substantially reduced our financing costs.”
   
   Source – Strategic Research Institute
9. voda 10 juni 2014 16:27

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   CFMEU blasts BHP Billiton over Mt Whaleback Newman job losses
   
   The West Australian reported that the Construction, Forestry, Mining and Energy Union has blasted BHP Billiton for slashing 170 jobs at its Mt Whaleback mine in Newman, arguing the mining giant could easily absorb fluctuating iron ore prices.
   
   Mr Gary Wood CFMEU mining and energy WA secretary said that “The decision showed that BHP was putting its ruthless cost cutting drive above any commitment to employees and regional communities. Forecasts show BHP could easily absorb fluctuations in the iron ore price, maintain employee numbers and remain profitable. But instead, it is throwing workers and families into turmoil because of its ruthless focus on cutting costs to improve shareholder returns."
   
   Mr Wood said that mining should benefit the entire community, not just shareholders, and BHP should be fighting to keep its people in work rather than throwing them on the scrapheap at the first opportunity.
   
   He said that the company had treated employees appallingly throughout the process. Workers are only finding out whether they still have a job when they turn up for their shift. Many of those losing their jobs live locally and will have to uproot their families in search of a new job. We should expect better from BHP.
   
   The Newman job losses follow last week's news that the mining giant had cut 100 jobs from its Perth headquarters in the city.
   
   Source – The West Australian
   
10. voda 10 juni 2014 16:28

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    Rio Tinto's driverless iron ore truck achieves a new milestone
    
    Mining giant Rio Tinto has loaded 200 million tonne of iron ore with its fleet of 53 driverless trucks.
    
    Rio, the world's largest operator of autonomous trucks, said that the milestone was reached at Yandicoogina mine in the Pilbara last month.
    
    Mr Andrew Harding, CEO of iron ore at Rio, said that the autonomous truck fleet delivered significant savings in maintenance, tyre life and fuel.
    
    He said that "These new technologies bring value and productivity benefits through decreased variability, improved schedule efficiency and early identification of bottlenecks in the system."
    
    It comes 13 months after the GPS directed trucks completed the loading of 100 million tonne in April, 2013.
    
    Iron ore prices tumbled 13% in May to around USD 94 per tonne.
    
    Source – The West Australian
    
12. voda 10 juni 2014 16:29

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    Vale iron ore exports rise by 14pct in April
    
    According to data released by India’s National Union of the Industry of Extraction of Iron and Base Metals (Sinferbase), the mining giant Vale’s iron ore exports totaled 21.95 million tonnes in April, increasing by 14.44% YoY.
    
    In April, the company’s iron roe sold to domestic market totaled 1.34 million tonnes falling by 0.15% YoY.
    
    In the January to April period, the company’s iron ore exports amounted to 88.64 million tonnes, rising by 10.01% YoY.
    
    Source - www.yieh.com
13. voda 11 juni 2014 16:16

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    Global miners respond to fall in iron ore
    
    BD Live reported that BHP Billiton, an influential iron ore producer, has signalled a major shift in the market.
    
    Mr Andrew Mackenzie CEO of BHP Billiton said that the global miner would move to sell more consumer oriented commodities such as potash and copper to China than iron ore and coal.
    
    Mr Sam Walsh CEO of Rio Tinto said that the fall in iron ore prices would hit Rio Tinto’s competitors, but Rio Tinto was the lowest cost producer in the world, at AUD 20 per tonne.
    
    Anglo American, which traditionally had less iron ore exposure than its peers, now has a large and costly project, Minas Rio in Brazil, due to come on stream towards the end of this year.
    
    Mr Hanre Roussouw, Investec Asset Management’s head of commodities for emerging markets, said that despite global industrial production remaining robust, there is concern the Chinese housing market is cooling. Housing uses more iron ore than copper or other metals. The penetration curve of various minerals, which refers to their gross domestic product per capita consumption at various levels of development, shows China is already ahead of the US in its steel consumption. The demand for steel is expected to taper off, while the demand for later stage commodities should still see strong growth."
    
    For the past decade the world’s biggest miners have invested heavily in iron ore projects to meet China’s demand for steel in infrastructure to modernise its economy. This year the trend of rising iron ore prices reversed sharply. The price has fallen about 30% to USD 94 per tonne, reflecting large stockpiles and a fall in Chinese demand for lower grade ore. Lower grade ore requires sintering and China wants to cut down on pollutants.
    
    Source - Bdlive.co.za
    
14. voda 12 juni 2014 17:01

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    BHP Billiton Mount Arthur coal mine evacuated on bomb threat
    
    It is reported that over 100 workers were evacuated from BHP Billiton’s Mount Arthur open-cut coal mine after a bomb threat was received on site.
    
    According to the report, an unknown caller contacted the mine offices, saying there was a bomb located near the site’s administration and workshop areas.
    
    It took several hours for police and emergency services to clear the area and declare the bomb threat a hoax. Work resumed at the mine shortly after.
    
    The incident comes on the heels of jobs reductions announced last week, which affected about 50 contractors.
    
    Big miners Glencore Xstrata have also decided to mothball Upper Hunter mines in coming months.
    
    Anglo American said that it is cutting contractors at its Drayton thermal coal mine, slated to run out of fossil fuel reserves in 2017, and putting permanents on a five day roster.
    
    Source - www.mining.com
    
15. voda 13 juni 2014 19:46

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    BHP Billiton terminates coal removal contract with Downer EDI
    
    It is reported that BHP Billiton Mitsubishi Alliance has terminated a coal removal contract signed with Downer EDI for its Goonyella Riverside mine in Queensland, with an aim to reduce costs at Australian coal operations.
    
    Effective from 9th September, the termination will result in the removal of 427 contractors from four pre-strip fleets at Goonyella Riverside.
    
    The termination of the contract, which was originally scheduled to complete in June 2016, will affect Downer's business by approximately USD 360 million.
    
    According to BMA, the decision was made to ensure the continuing viability of its coal business.
    
    To be globally competitive we have to reset the cost base of the business.
    
    Mr Dean Dalla Vale, BHP coal division president, said that terminating the contract with Downer was a continuation of cost-cutting measures that have been underway for more than 18 months.
    
    Mr Vale said that "Further measures to address wage and other costs are being undertaken at all mines in Queensland and New South Wales, as we continue our detailed reviews of every aspect of our coal operations to ensure every operation remains operating cash positive."
    
    He said that "The coal industry is undergoing a difficult transition and to be globally competitive we have to reset the cost base of the business. Coal producers face challenging decisions."
    
    However, as per the terms of the contract, Downer will receive compensation for early termination.
    
    Mr Grant Fenn CEO of Downer said that the company would work closely with BMA through the transitioning process.
    
    In addition to the open pit Goonyella Riverside mine, BMA operates six other mines in the Bowen Basin of Queensland state.
    
    Source - www.mining-technology.com
    
16. voda 13 juni 2014 19:49

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    BHP Billiton may cut coal production in Australia
    
    BHP Billiton may cut production at one of its biggest metallurgical coal mines in Australia, after the Anglo-Australian miner said on Wednesday it had terminated a mining service contract to cut costs amid a sharp drop in coal prices.
    
    BHP and its partner Mitsubishi Development Pty Ltd, a unit of Japan's Mitsubishi Corp, said that they had scrapped a contract with mining services provider Downer EDI Ltd for pre-strip work at the Goonyella Riverside mine in Queensland.
    
    Downer EDI said that the remaining two years on the contract were worth about AUD 360 million. The termination, effective September 9th, would result in 427 contractors leaving the site.
    
    BHP said that the Goonyella Riverside mine produced 12.4 million tonnes of metallurgical coal in the year to June 2013. Output in the current financial year would be unaffected by the contract termination.
    
    Ms Emily Perry, BHP spokeswoman, said that "Any potential production impact for 2015 will be reported in quarterly production reports at the time."
    
    The world's top coal exporter to steel mills flagged further cuts were likely as it continues to review all its coal operations to ensure they do not make losses, with thermal and coking coal prices having slumped to near five-year lows.
    
    Mr Dean Dalla Valle president of BHP's coal said that "The coal industry is undergoing a difficult transition and to be globally competitive we have to reset the cost base of the business. This will continue to play out over the near term."
    
    Source – Reuters
    
17. voda 13 juni 2014 19:53

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    BHP Billiton takes AUD 46 million from Port Hedland accommodation project
    
    The West Australian reported that BHP Billiton appears to have realised a loss of about AUD 46 million from an ambitious Port Hedland accommodation project which suffered a financial collapse.
    
    A report lodged with the corporate regulator by receivers for developer Port Village Accommodation showed that following the liquidation sale of the project site this year, secured creditor BHP received a dividend payment of AUD 7 million.
    
    The mining giant had financed the project known as The Landing with a AUD 53 million loan to PVA under a deal to house its workers at the facility.
    
    BHP put the developer into receivership in 2012 when the project was in the early stages of construction. PVA was left owing creditors about AUD 130 million.
    
    The site, near Port Hedland's airport, was sold in March to The Guilmartin Group for AUD 7.5 million. A statement of accounts lodged by EY this week said that AUD 11 million had been collected on behalf of creditors by April 30.
    
    The payment to BHP was described as the first dividend for secured creditors. BHP was the only secured creditor. There are not believed to be any major PVA assets left to sell.
    
    Led by Mr Rob Cornish director of PVA, The Landing was conceived as a tourism project that also met worker accommodation shortages and was underwritten by the resources industry.
    
    But when iron ore miners pulled back on their expansion plans, BHP rejected efforts to revive the 650 room project, which had included a five star hotel.
    
    Source - The West Australian
    
18. voda 24 juni 2014 16:31

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    Lange staking bij platinaproducenten voorbij
    
    DINSDAG 24 JUNI 2014, 08:13 uur | 85 keer gelezen
    
    JOHANNESBURG (AFN/BLOOMBERG) - Na 5 maanden komt er een einde aan de staking bij de drie grootste platinaproducenten ter wereld. De mijnwerkersvakbond AMCU maakte bekend in te stemmen met het jongste loonvoorstel van de bedrijven Lonmin, Anglo American Platinum en Impala Platinum.
    De staking van tenminste 70.000 mijnwerkers kostte de bedrijven bijna 24 miljard Zuid-Afrikaanse rand (1,7 miljard euro) en resulteerde in een economische krimp in het eerste kwartaal van dit jaar. In Zuid-Afrika wordt circa 70 procent van alle platina ter wereld gedolven.
    
    Onder het loonakkoord, dat dinsdag getekend zal worden, krijgen de laagst betaalde arbeiders er de komende 2 jaar elke maand 1000 rand bij en 950 rand in het jaar daarop. Momenteel liggen de salarissen tussen 5000 en 6000 rand per maand. AMCU eiste aanvankelijk meer dan een verdubbeling van de laagste lonen tot 12.500 rand.
    
    
19. voda 25 juni 2014 16:47

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    BHP Billiton eyeing more jobs cuts in Australia
    
    Reuters reported that BHP Billiton is planning to cut more jobs at its flagship Australian iron ore division as it seeks to reduce costs following a slump in iron prices.
    
    A BHP spokeswoman said that it was not possible to put a number on how many jobs would be targeted and declined to confirm an Australian Broadcasting Corp radio report that the number could reach 3,000.
    
    The world's biggest miner, which employs about 16,000 people in its iron ore division, announced earlier this year that 170 jobs would go at its Whaleback mine in the Pilbara iron ore belt. A further 100 people have been let go at the division's Perth headquarters.
    
    Iron ore prices have fallen more 31% this year due to slowing demand growth in China, the main market for Australian ore.
    
    BHP's spokeswoman said that this is about continuing to safely improve our business and ensuring we are a competitive, world class operation adding that reducing the payroll was part of a wider focus to contain costs.
    
    BHP is currently expanding its iron ore operations after late last year commissioning its Jimblebar mine in the Pilbara iron ore belt. However, Chinese buyers are being offered discounts by Australian miners to maintain sales as increased supply from major miners has overwhelmed demand growth.
    
    Source – Reuters
    
20. voda 30 juni 2014 16:23

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    Herstel investeringen wereldwijd nog ver weg - S&P
    
    AMSTERDAM (Dow Jones)--Herstel van het mondiale investeringsklimaat lijkt nog ver weg, nu mijnbouwers en metaalproducenten de broekriem aanhalen terwijl ook de investeringen in olie- en aardgassector lijken te stagneren, stelt kredietbeoordelaar Standard & Poor's maandag in een rapport.
    
    De 2.000 grootste investeerders wereldwijd zwemmen in het geld, met niet minder dan $4.500 miljard of $4,5 biljoen aan contanten op de bankrekening. Toch verwacht S&P dat de mondiale investeringen door het grootkapitaal dit jaar met 0,5% zullen dalen en in 2015 zelfs met 3%, na een reele afname van 1% in 2013.
    
    Daarmee blijven de wereldwijde investeringen voor het derde jaar op rij hangen rond $3,3 biljoen.
    
    De daling wordt onder andere verwacht omdat metaalproducenten en mijnbouwers zoals BHP Billiton, Vale en Rio Tinto hun investeringen in kapitaalgoederen drastisch hebben teruggeschroefd in wat een meerjarige aanpassing lijkt te zijn.
    
    Nog zorgwekkender zijn de signalen van stagnerende investeringen in de veel grotere wereldwijde olie- en gasindustrie, door grootmachten zoals Petrobras, Chevron, Gazprom en Total. De olie- en aardgasindustrie was vorig jaar goed voor maar liefst 42% van de investeringen van grote bedrijven vorig jaar, en voor negen van de tien plaatsen in de toptien.
    
    Na een ruime verdubbeling van de investeringen in het afgelopen decennium lijkt de rek eruit bij de energieconcerns. Het wordt steeds moeilijker om nieuwe energiereserves te vinden en aan te voren, waardoor het rendement op geinvesteerd kapitaal onder druk staat.
    
    De opkomende markten zagen de investeringen vorig jaar met 4% dalen en S&P verwacht voor dit jaar een vergelijkbare afname, ook in de vier grote BRIC-landen Brazilie, Rusland, India en China.
    
    Herstel moet komen van andere sectoren zoals IT (zoals Apple, Google, Microsoft), medische zorg en telecom (Vodafone, America Movil). Nuts- en industriele bedrijven, vanouds grote investeerders, blijven minder investeren dit jaar.
    
    De investeringen in West-Europa zijn bescheiden geweest, maar wel veerkrachtig vergeleken met andere regio's. Voor 2014 wordt bij ons een groei verwacht van 1%, omdat lagere investeringen door zwaargewichten Shell en Total in 2013 (respectievelijke $40 miljard en $31 miljard geinvesteerd) worden opgevangen door autofabrikant en telecombedrijven, zoals Volkswagen ($16 miljard), Daimler en Vodafone (beide $7 miljard).
    
    Door Archie van Riemsdijk; Dow Jones Nieuwsdienst, +31-20-5715200 ; archie.vanriemsdijk@wsj.com
    
    
    
21. voda 2 juli 2014 16:59

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    BHP Billiton silent on more job cuts
    
    BHP Billiton is thought to have made another 60 positions across its WA iron ore division redundant as part of Jimmy Wilson's relentless drive to squeeze costs out of a business that is coming to the end of a defining period of production volume growth.
    
    Ahead of a ceremony in Port Hedland tomorrow to mark the shipment of BHP's billionth tonne of iron ore to Japan, the company is understood to have targeted planning and development roles in its Perth divisional head office as well as in Newman and other Pilbara centers.
    
    BHP would not confirm the cuts, which come as the latest in the company's cost reduction efforts and have already led to more than 500 roles axed and the prospect of hundreds more.
    
    Mr Wilson president who has been in charge of the iron ore division for exactly 2 years, will front media for the first time since March and will be asked to explain the extent of the job cuts and how many more positions are being targeted.
    
    He said that the focus of the cost-cutting program would be on support functions for the core operational staff, which he described as adding direct value. In providing that facilitation and that help to those that add value we need to be mindful of the effectiveness of that and the efficiency.
    
    He added that we are already getting to a process now about elimination of waste and wasteful activities. Some of the stuff that we do, while it's developed with the best of intentions, there's a huge amount of effort involved and no real outcomes or no real change to the essence that the way those fold we are trying to help act.
    
    Source – Finance Courier