{"id":15528,"date":"2012-10-12T17:50:23","date_gmt":"2012-10-12T15:50:23","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/blackrock-sees-more-room-for-miners-to-cut-costs-hike-payouts\/"},"modified":"2012-10-12T17:50:23","modified_gmt":"2012-10-12T15:50:23","slug":"blackrock-sees-more-room-for-miners-to-cut-costs-hike-payouts","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/blackrock-sees-more-room-for-miners-to-cut-costs-hike-payouts\/","title":{"rendered":"BlackRock sees more room for miners to cut costs, hike payouts"},"content":{"rendered":"

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

* Miners could return more capital to shareholders<\/span><\/p>\n

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

* Copper, iron ore producers tipped to make handsome returns<\/p>\n

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

By Maytaal Angel and Clara Ferreira-Marques<\/p>\n

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

LONDON, Oct 12 (Reuters) – Mining firms, already cutting
\nback after years of rising costs, could do more to tighten their
\nbelts and should use the proceeds to increase payouts to
\nyield-hungry investors, BlackRock, the world’s largest fund
\nmanager said on Friday.<\/p>\n

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

As demand weakens, BHP Billiton, Rio Tinto
\nand others are reviewing tens of billions of dollars of new
\nprojects and cutting back staff, from office workers to mine
\nengineers, particularly in high-cost regions like Australia.<\/p>\n

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

Over years of cranking up production to catch high prices,
\nmany investors complained that the need to increase volumes had
\npushed companies into ever costlier projects, at the expense of
\nreturning cash to shareholders through dividends and buybacks.<\/p>\n

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

“The trends we are seeing in the industry are ones where
\ncapital is being cut and costs are being cut, that’s obviously
\ngoing to free up cash flows,” said fund manager Evy Hambro,
\nBlackRock’s investment chief for natural resources and one of
\nthe sector’s best known names.<\/p>\n

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

“It’s a question of what the companies do with their cash
\nflows. We’re hoping that some of that cash flow comes back to
\ninvestors in the form of higher payouts.”<\/p>\n

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

Hambro called for a better balance in capital allocation by
\nminers, which are traditionally keen to put money into new
\nprojects and acquisitions, and only after that hand it back to
\ninvestors.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Miners could return more capital to shareholders * Copper, iron ore producers tipped to make handsome returns By Maytaal Angel and Clara Ferreira-Marques LONDON, Oct 12 (Reuters) – Mining firms, already cutting back after years of rising costs, could do more to tighten their belts and should use the proceeds to increase payouts to […]<\/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-15528","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\/15528","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=15528"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15528\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}