Swapping aluminum for copper will maintain China’s resources, group says
China depends on overseas imports for 60% of its aluminum resources as opposed to 70% of its copper resources.
Australian giant BHP Billiton (ASX: BHP)(LSE: BLT)(NYSE: BHP) today announced Andrew Mackenzie will ascend to its top job on May 10 after current chief Marius Kloppers steps down to retire in the fall.
Mackenzie, 56, is currently head of BHP Billiton’s non-ferrous division. He joined the company in November 2008. Prior to that, he worked for rival Rio Tinto as well as with BP for more than 20 years. A native of Scotland, he began his career as a geologist and organic geochemist.
“I look forward to … continuing the focus on our strategy of owning and safely operating large, low cost, long life assets diversified by commodity, geography and market,” Mackenzie said in the written statement. He will move from London and be based out of the corporate headquarters in Melbourne, Australia.
On Tuesday, BHP Billiton also reported results for the half year ended Dec. 31, 2012 which saw attributable net profits including writedowns plunge by 58% to $4.2 billion while revenues declined 14% to $32 billion from $37.5 billion a year before.
Image courtesy BHP Billiton
