Reuters reported that Colombia's Cerrejon, a joint venture between Anglo American plc (LSE:AAL), BHP Billiton Ltd. (ASX:BHP,LSE:BLT,NYSE:BHP) and Glencore Xstrata plc (LSE:GLEN), may have problems meeting its 2013 production target of 34 million tonnes of coal as a result of a strike earlier this year and attacks on its railway.
Articles Tagged "BHP Billiton"
The Guardian reported that BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) has opted out of a $5-billion plan to build a second terminal at the Abbot Point port, located near the Queensland, Australia town of Bowen. The move was reportedly prompted by the release of a report that states an expansion would be "misguided and could result in job losses."
Bloomberg reported that BHP Billiton Ltd.'s (ASX:BHP,NYSE:BHP,LSE:BLT) Colombia-based Cerrejon coal mine will come close to a previously announced production target despite a month-long strike.
Australia was the fifth-largest coal producer in the world in 2012, according to the World Coal Association.
BHP Billiton Ltd. (ASX:BHP,LSE:BLT,NYSE:BHP) announced the opening of its Daunia mine, its ninth operating metallurgical coal mine in Central Queensland. Mitsubishi Corp. (TSE:8058) is BHP's operating partner.
The Telegraph reported that although BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT) Chief Executive Andrew Mackenzie describes coal as one of the pillars the company will build its future on, he thinks BHP is "probably finished for a time investing in coal."
Reuters reported that BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT) will not sell its Australia-based Gregory Crinum coal mining complex. Bankers believe that the move may cause problems for other miners hoping to sell coal properties.
Investors nervously watched this week to see if coal producers would be weighed down by bad weather and higher taxes.
Reuters reported that BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) wants to sell approximately 10 assets. The move follows BHP's decision last year to shut down a number of unprofitable coal mines, as well as its announcement last month that it is considering selling the Queensland-based Gregory-Crinum coking coal mine.
The International Business Times reported that BHP Billiton's former Chief Executive Marius Kloppers says that he was not fired, but left of his own accord.