BHP Billiton News
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Ford Motor Co. Falcons, driven by Mel Gibson in Australia’s 1979 movie “Mad Max,” have rolled off a Melbourne production line for 53 years. Now, like Max’s “last of the V-8s,” their days are numbered.
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Sherritt International Corp., a Canadian mining and energy company with operations on four continents, is considering options including selling assets or restructuring the business to improve its value.
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China’s manufacturing is contracting in May for the first time in seven months, adding to signs that economic growth is losing steam for a second quarter.
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Ford Motor Co. will stop making cars in Australia, nine decades after founder Henry Ford first began building Model Ts in the country, as a surge in the currency undermines the local industry’s ability to compete with imports.
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An accident at Freeport-McMoRan Copper & Gold Inc.’s Grasberg mine is drawing comparisons with a 2003 landslide at the same Indonesian operation that helped trigger an unprecedented five-year surge in copper prices.
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Copper futures rose to a five-week high on mounting concern that a deadly accident at the world’s second-biggest mine may crimp supplies as a recovering housing market boosts metal demand in the U.S.
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Barrick Gold Corp., the biggest miner of the metal by sales, is considering shrinking in size as the company focuses on returns over production volumes, Chief Executive Officer Jamie Sokalsky said.
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Metso Oyj, a Finnish maker of rock crushers and mineral-processing equipment, fell the most in seven weeks after Danske Bank A/S urged clients to sell the stock after Australian suppliers signaled weaker mining demand.
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Freeport-McMoRan Copper & Gold Inc. began a safety review at its halted Grasberg operation, the world’s second-largest copper mine, amid supply concerns that are boosting prices.
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Mining and energy projects worth about A$150 billion ($147 billion) have been delayed or canceled in the past year in Australia as investments peaked and commodity prices declined.
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