The world's number one miner, BHP Billiton, has delayed its $30 billion Olympic Dam copper-uranium expansion and said no major projects would be approved until June 2013 as it tries cutting costs.
At a time when complex financial instruments allow for the seemingly effective hedging of all manner of risks, why should precious metals, which involve considerable downside risk, continue to be attractive?
Marius Kloppers, CEO of mining giant BHP Billiton, has decided to waive his annual bonus in light of a recent forecast in which BHP's revenues are projected to drop 38%
As the price of the yellow metal punched through the $1625 an ounce level, buy stops were initiated, fuelling the rally as some traders on the short side were forced out of the market.
When the third lane opens the canal's capacity will more than double. The largest ships will carry as many as 13,200 containers -- at least double the dry weight of bulk cargo that can pass through today.