Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
SYDNEY, Aug 22 (Reuters) – BHP Billiton said it will not be seeking approval for its Jansen potash project in the 2018 calendar year due to uncertain timing on the need for the commodity used as fertilizer.
“We will not be seeking board approval for Jansen this year,” Chief Financial Officer Peter Beaven told an analyst briefing after the company reported a five-fold lift in annual underlying profit to $6.7 billion in fiscal 2017. (Reporting by James Regan; Editing by Richard Pullin)
