BHP Billiton Ltd., the world’s biggest mining company, said first-half profit rose a more-than- expected 31 percent as its iron ore earnings gained and costs declined amid improving global economic growth.
Australia’s planned mining tax will raise less than half the amount forecast by the nation’s Treasury in the next two years and reduce profit estimates for BHP Billiton Ltd. and Rio Tinto Ltd., UBS AG said.
BHP Billiton Ltd.’s $20 billion foray into U.S. shale gas has been hit by a decade-low plunge in prices, raising the specter over the world’s biggest mining company of the Alcan Inc. deal that almost sank Rio Tinto Group.
BHP Billiton Ltd., the world’s biggest miner, is seeking partners for its Canadian potash project after approving spending of $2.6 billion, less than a month after the largest producer set off a possible price war.
Rio Tinto Group, the world’s second- largest mining company, had a better-than-expected second-half loss on a $14 billion one-time charge, as earnings at its iron ore unit beat analyst expectations and it lifted its dividend.
Sinochem Group, China’s biggest fertilizer trader, considers even a $10 billion bid for Potash Corp. of Saskatchewan Inc. by itself as too much, Caijing magazine said, citing Han Gensheng , the company’s vice president.