BHP Billiton is an Anglo-Australian multinational mining, metals and petroleum company headquartered in Melbourne, Australia. It is the world's largest mining company measured by 2013 revenues.BHP Billiton was created in 2001 through the merger of the Australian Broken Hill Proprietary Company Limited and the Anglo–Dutch Billiton plc. The result is a dual-listed company. The Australia-registered BHP Billiton Limited, which has equal financial share in the company, has a primary listing on the Australian Securities Exchange and is the largest company in Australia measured by market capitalisation. The UK-registered BHP Billiton Plc has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £41.5 billion as of 19 August 2014. On August 19, 2014, BHP Billiton announced the company would be split in two. A newly formed entity named South32 will house the company's non-core assets. Capitalized at $15 billion, the new entity will be listed on the Australian Securities Exchange with a secondary listing on the Johannesburg bourse and a standard listing on the London market. Wikipedia.
News Article | May 19, 2017
It’s been a big week for BHP Billiton. For one thing, it’s not even called that any more. As part of its “Think Big” rebranding theme, the world’s biggest mining company opted to shed the Billiton moniker it acquired in a 2001 merger with a Dutch-South African company and revert to its previous true-blue Aussie name. BHP says the rebranding – complete with TV ads about how seven ordinary blokes in the outback founded what is now a global business worth $A94bn (£54bn) – is part of a long-term plan started 18 months ago to reconnect with communities. “The timing now is good but we don’t look at it as an event,” the company’s chief external affairs officer, Geoff Healy, says. “This is a clean brand change for the company.” The move appeared to bookend a happy period when the Anglo-Australian mining colossus had rediscovered its direction after 19 people were killed in a disastrous dam burst at an iron ore joint venture in Brazil in 2015 and the share price sank to a 10-year low. But no sooner had BHP put the finishing touches to its fresh look on Monday than it found itself, for the second time in a month, the subject of an unflattering critique by a predatory US hedge fund. Upsetting BHP’s big week was Elliott Advisors, whose Arsenal-supporting billionaire founder, Paul Singer, has earned a fearsome reputation for pursuing change at companies he thinks could make him more money. In April, Elliott wrote to investors demanding that BHP spin off its US oil assets and abolish its “obsolete” corporate structure that means it is listed in the UK and Australia. This week it adopted a more acrimonious tone, sledging BHP’s management for “chronic underperformance”, adopting a “do nothing” approach and destroying shareholder value to the tune of billions of dollars. BHP has yet to comment but its new image could appeal to the patriotism of its many small Australian shareholders and help rebuff Elliott’s increasingly threatening advances. By evoking the company’s gritty origins as Broken Hill Proprietary in remote New South Wales, BHP may have claimed to be thinking big but in reality is going back to basics. Even the Australian treasurer, Scott Morrison, got in on the act last week when he dismissed Elliott’s initial suggestions about removing BHP from the Australian stock market as “unthinkable”. For good measure he added that taking the “original big Australian” offshore could lead to legal action against executives as it would contravene the terms of the 2001 merger. Morrison’s comments were telling and reveal that Elliott, which once seized an Argentinian warship to extract debt repayment from the Buenos Aires government, may have underestimated the attachment Australians feel towards its corporate champions. While people in the UK are used to seeing companies and utilities bought and sold to the highest bidder – Cadbury, ICI, British Steel and Jaguar Land Rover have all disappeared or gone into foreign hands – Australians appear more attached to their big names, especially ones worth billions and which have paid handsome dividends to shareholders and pension funds down the years. Richard Knights of the London-based investment banking and share brokerage firm Liberum Capital says Elliott had misjudged the likely political fallout from its proposal that BHP drop its stock market listing in Australia. “I don’t think they quite grasped how much part of the corporate fabric of Australia BHP is. It has a lot of mum and dad shareholders, a lot of pension money and retirement savings. It’s a different culture to [the UK], where someone else manages your money. There’s more of a direct investment culture so there’s a cultural angle that they missed.” He adds that the mining giant’s rebranding was also a factor. “I think it ties into this whole cultural heritage,” he says, “because they spun off most of the Billiton assets so what’s left is mostly BHP.” While the finer points of brand awareness might not be a core consideration for a business that is focused on digging millions of tonnes of iron ore, coal and copper out of the ground, the significance is not lost on industry experts. Andrew Holt, the chief executive in Australia of the creative agency VCCP, says the “Think Big” campaign showed BHP was going back to its roots in order to restore its “Australian-ness”. “That would seem a timely argument if you’re trying to fight off a foreign investor,” he says. Elliott did admit this week that amid all the discussion of “underperformance” and “unlocking optimal shareholder value”, there was a cultural dimension to the number-crunching. “We understood from the start that unification requires BHP to cut through certain complexity and that Australians in particular feel passionate about BHP remaining rooted in Australia,” the hedge fund said. Elliott is promising to fight on. Its latest missive backtracked on scrapping the dual UK-Australia listing but it remains belligerent, claiming that BHP’s purchase of the US shale interests have cost shareholders US$23bn. So although BHP’s CEO, Andrew Mackenzie, has said he would consider selling the US shale oil business for the right price and met representatives of Elliott in Barcelona on Wednesday, it is unlikely the activist fund, which claims to speak for 4.1% of shareholders, will go quietly. Ric Spooner, the chief market strategist at CMC Markets in Sydney, says many shareholders agreed with Elliott that BHP would be better off selling the US oil business and reinvesting the proceeds in other parts of the company. “The problem is BHP management has a dissenting view,” he says. “They don’t agree that they would be better off by selling the oil assets. BHP believes that the advantage of oil is that it allows diversification and that it does well when other commodities do badly.” Investec analyst Hunter Hillcoat says: “In our view, BHP’s ‘chronic underperformance’ is not as chronic as Elliott makes out and some aspects of the Elliott presentation appear disingenuous and/or made with the benefit of hindsight. “While BHP has certainly made poor investments, in our view it has been no worse than its peers in this regard.” He admits there might be some merit in BHP selling its petroleum business, adding that the dispute could ultimately work in shareholders’ favour, even if BHP makes no major concessions. “Whatever the outcome, Elliott’s agitation should be good for BHP shareholders, in our view, if only to create greater transparency.” And that could be a big plus at the end of the week.
News Article | May 16, 2017
One of the UK’s top investment fund managers, BMO Global Asset Management, has committed to divesting £20 million in fossil fuel investments, including shares in BHP Billiton. The asset management company made the announcement on Monday, revealing that it would exclude all companies with fossil fuel reserves from its Responsible Funds range as part of a larger updated climate change policy. The divestment will take place immediately for the company’s Global and Emerging Market strategies within its Responsible Funds range, and will extend to the remaining three UK-based funds by January 1, 2020. According to BMO, the new divestment policy “comes as investors in ethically screened funds increasingly look to avoid investing in companies involved in fossil fuel extraction, with over $5 trillion in institutional assets having some form of divestment strategy in place” — referencing figures from Go Fossil Free as of April of this year. “If all current known reserves are extracted and burnt, we know that the world would not meet the 2 degrees temperature limit established under the Paris Agreement,” explained Vicki Bakhshi, Director in the Governance and Sustainable Investment team. “As such, we have come to the view that investment in companies with fossil fuel reserves is increasingly incompatible with the ethical and sustainability objectives of the Responsible Strategies range that we run.” We know that shares in BHP Billiton will be among those shares sold as part of this new divestment policy, but little else is known currently. However, one interesting point to take away from all of this is the role that the Archbishop of Canterbury, Justin Welby, played in this move. The Church of England — of which the Archbishop of Canterbury is the most senior cleric — has already divested from companies making more than 10% of their revenue from thermal coal or tar sands. It is believed that Welby played an important role in BMO’s new policy as President of BMO’s Responsible Investment Advisory Council. “This policy is a most impressive piece of work and puts BMO Global Asset Management in the front line as a leader on the issue of climate change,” the Most Revd Justin Welby said. “BMO Global Asset Management’s Responsible Funds range has a set of ethical and sustainability criteria governing which companies the strategies can invest in. These criteria are set by the Governance and Sustainable Investment team.” Check out our new 93-page EV report. Join us for an upcoming Cleantech Revolution Tour conference! Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech daily newsletter or weekly newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.
News Article | May 22, 2017
Rio Tinto (LN:RIO) is looking to buy back up to US$2.5 billion of debt in a display of financial strength. The company has launched a bond purchase plan, seeking to acquire $1.72 billion of its 2019 and 2020 US dollar-denominated notes and around $781 million of its five 2021, 2022 and 2025 US dollar-denominated notes. Rio said the announcement was part of its “ongoing capital management plan” and followed the successful completion, last year, of a series of $7.5 billion US dollar-denominated note redemptions and repurchases. It comes on top of the company’s $500 million share buyback, which commenced in March. What the announcement really represents is a show of the company’s marked strength. While BHP Billiton (AU:BHP) and its oil division, in particular, is being attacked by activist investor Elliott Advisors, Rio Tinto has continued to show its diversified operations can withstand the current market volatility. Last year, alone, the company recorded $4.6 billion of net earnings, provided $3.6 billion of shareholder returns and cut net debt by 30% to $9.6 billion. Such numbers, in tandem with higher commodity prices, have seen Rio’s London-listed shares rise 66% in the space of a year. This compares favourably with the 34% boost BHP’s Australia-listed stock has received.
BHP Billiton | Date: 2012-10-22
The invention relates to a bellows hose, which is capable of being used without leakage, and which has a longer length and/or diameter than has been previously achievable. A bellows hose comprises an inner tubular bellows and an outer tubular bellows. An insulation layer is provided between the bellows. An armoured layer is provided around the outer bellows, to improve the insulation further. The hose can have length above 30 m and a diameter above 400 mm. A method of, and apparatus for, making the hose are also described, which involves the use of a non-metallic mandrel.
BHP Billiton | Date: 2013-09-13
A process for extracting uranium from an acidic uranium, chloride, iron and sulphate containing solution, including the steps: a. contacting the solution with an organic phase containing a trialkylphosphine oxide to form a uranium loaded organic phase; b. scrubbing the uranium loaded organic phase to remove any impurities and form a scrubbed organic phase; c. stripping the scrubbed organic phase with an acidic sulphate solution to produce an aqueous uranium strip solution; and precipitating a uranium product from the aqueous uranium strip solution.
BHP Billiton | Date: 2012-10-22
The invention relates to a composite hose, which is capable of being used without leakage, and which has a longer length and/or diameter than has been previously achievable. A composite hose comprises a tubular body of flexible material arranged between an inner and an outer helically wound wire. The hose further comprises an axial strengthening means adapted to reduce deformation of the tubular body when the tubular body is subjected to axial tension, the axial strengthening means being adapted to exert a radially inward force on at least part of the tubular body when axial strengthening means is subjected to axial tension. The hose can have length above 30 m and a diameter above 400 mm. A method of, and apparatus for, making the hose are also described, which involves the use of a non-metallic mandrel.
BHP Billiton | Date: 2013-02-13
A process for the production of a high grade nickel product including the steps of: a) providing at least one heap of a nickeliferous lateritic ore and leaching that heap with a suitable lixiviant, preferably sulfuric acid solution, to produce a nickel rich pregnant leach solution (PLS); b) subjecting the PLS to an impurity removal step to precipitate ferric iron, and preferably partially precipitate aluminium and chromium as hydroxides; and c) recovering a high grade nickel product from the PLS preferably by either nickel ion exchange, solvent extraction, electrowinning, conventional multi-stage neutralization, pyrohydrolysis or sulfidation.
BHP Billiton | Date: 2012-04-05
A pyrometallurgical vessel for the production of metal by the electrolytic reduction of a metal bearing material dissolved in a molten salt bath, the cell including a shell 11 and a lining 12,13 on the interior of the shell, the lining including a bottom cathode lining 13 and a side wall lining 12, at least one of the bottom cathode lining 13 and a side wall lining 12 including a plurality of fluid ducts 16, 22, 31, 41 positioned within the lining for conducting a fluid therethrough, the flow of fluid through the ducts within the linings having 3-dimensional directional flow provided by 3-dimensional shapes inserted into the ducts or the ducts comprising a number of straight sections joined by curved sections arranged in a 3-dimensional shape, the 3-dimensional shapes of the ducts or the 3-dimensional shapes inserted into the ducts. The 3-D shapes in the ducts or the 3-D shape of the ducts are in such a way that secondary flows in the fluid are formed, broken and reformed imparting greater advection in the flow.
BHP Billiton | Date: 2014-04-10
A hose comprising a tubular body of flexible material arranged between an inner and outer helically wound wire. The hose further comprises an elongate member having opposing longitudinal edges, the elongate member being helically wound around the tubular body such that the opposing longitudinal edges of the layer are in an adjacent or overlapping arrangement, wherein each longitudinal edge includes a formation capable of interengaging with a cooperating formation on the opposing longitudinal edge, wherein the elongate member is provided at least one reinforcing member which extends along the longitudinal axis of the elongate member.
BHP Billiton | Date: 2013-06-21
A process for the removal of ferric iron as hematite from a nickel solution containing ferric and ferrous ions including the steps of: raising the temperature of the nickel solution to between 90 C. and the boiling point of the solution at atmospheric pressure; raising the pH of the nickel solution to be between 2 and 3; and adding a hematite seed to facilitate hematite precipitation, wherein ferric ions are precipitated as hematite in a predominantly crystalline form.