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.
Global miner BHP Group said on Thursday it has approved an investment of $283 million to fund the development of an oil and gas project in Trinidad and Tobago.
Total investment in the Ruby Project, in which BHP holds a 68.5% stake, is about $500 million, the miner said in a statement.
The remaining interest in the project is held by state-owned Heritage Petroleum and the National Gas Company of Trinidad and Tobago.
“Ruby aligns well with our strategy of maximising value from our existing assets, bringing competitive near term value and volume growth,” Geraldine Slattery, BHP President Operations Petroleum said.
(By Aditya Soni; Editing by Richard Pullin)
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andrés sorribes
In 6 years iter fusion energy project in southern france if it has success it will literally wipe out the rest of energy forms on the earth, primary resource will be desalated water and it will cause a drop in energy price surely… 😛 😀