Record low gas prices in North America will result in BHP Billiton (NYSE:BHP) taking an impairment of US$2.84 billion (before tax) against the carrying value of the Fayetteville shale gas assets acquired from Chesapeake Energy in February 2011.
Gold Fields (NYSE:GFI), the world's fourth largest gold producer, has begun formal talks with its workers and union about labour reductions at its South Deep Joint Venture.