Coal Marketing Co., the exclusive shipper of coal from BHP Billiton Ltd.’s Cerrejon venture with Xstrata Plc and Anglo American Plc in Colombia, canceled about 900,000 metric tons of shipments because of a strike.
Potash Corp. of Saskatchewan Inc. sued BHP Billiton Ltd. , the world’s largest mining company, in Chicago federal court to prevent it from acquiring the fertilizer maker with a $40 billion hostile offer.
BHP Billiton Ltd., the world’s biggest mining company, is continuing preparatory work at its Jansen potash project after delaying a final decision on whether to proceed with the multibillion-dollar Canadian mine.
Potash Corp. of Saskatchewan Inc. , the world’s largest fertilizer company, dropped the most in four months in New York on speculation the Canadian government will block BHP Billiton Ltd. ’s $40 billion hostile takeover offer.
Rio Tinto Group and BHP Billiton Ltd. have been contacted by institutional investors demanding the companies abandon plans for future acquisitions and instead return cash through share buybacks, the Sunday Telegraph said.
Codelco, Chile’s state-owned copper producer, is poised to narrow BHP Billiton Ltd.’s lead in the bond market even as it prepares the biggest investment plan since dictator Augusto Pinochet created the company in 1976.