{"id":10427,"date":"2012-05-02T20:30:53","date_gmt":"2012-05-02T18:30:53","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/bhp-moves-to-ease-worries-over-mega-project-spend\/"},"modified":"2012-05-02T20:30:53","modified_gmt":"2012-05-02T18:30:53","slug":"bhp-moves-to-ease-worries-over-mega-project-spend","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/bhp-moves-to-ease-worries-over-mega-project-spend\/","title":{"rendered":"BHP moves to ease worries over mega project spend"},"content":{"rendered":"

\t\t<\/span><\/p>\n

LONDON<\/span> May 2 (Reuters) – Miner BHP Billiton moved to
\nreassure investors fretting over its spending on “mega
\nprojects”, promising discipline and potential non-core asset
\nsales in one of the sector’s clearest efforts to address market
\nworries over the cost of growth.<\/span><\/p>\n

<\/span><\/p>\n

BHP, the world’s largest miner, has said it will
\n“live within its means”, but went further on Wednesday to soothe
\nconcerns, as investors across the sector fret over the prospects
\nof flattening demand for some commodities while the sector’s
\norganic growth pipeline totals some $180 billion.<\/p>\n

<\/span><\/p>\n

Alberto Calderon, BHP’s chief executive of aluminium, nickel
\nand corporate development, said in a presentation the company
\nhad “substantial flexibility” to sequence investments – stagger
\ntheir progress – and would match spending to cash flows.<\/p>\n

<\/span><\/p>\n

Laying out BHP’s plan, he said projects would be “be
\napproved in a sequence that maximises value, reduces risk and
\nbalances short- and long-term returns”.<\/p>\n

<\/span><\/p>\n

Calderon said BHP was committed to a progressive dividend,
\nbut gave little hope to investors expecting more discipline on
\nmajor projects could mean a fresh share buyback.<\/p>\n

<\/span><\/p>\n

<\/span><\/p>\n

<\/span><\/p>\n

LARGE-SCALE FOCUS<\/p>\n

<\/span><\/p>\n

Calderon did, however, signal the miner could sell off more
\nnon-core operations, a stance mirrored across the sector as the
\nmajor players focus on simple, large-scale operations.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON May 2 (Reuters) – Miner BHP Billiton moved to reassure investors fretting over its spending on “mega projects”, promising discipline and potential non-core asset sales in one of the sector’s clearest efforts to address market worries over the cost of growth. BHP, the world’s largest miner, has said it will “live within its means”, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10427","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10427"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10427\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}