The world’s largest mining group, of a new era. BHP Billiton of Australia gets out of the shale oil production in the United States, gets a new boss and make billions in profits.
Fracking in Colorado, USA
Fracking, such as the promotion of Oil and Gas in deep layers of rock is called, was a few years ago, a hot business in the United States. And everyone wanted to be there. Then, the Oil price slipped away to the world markets, and the expensive production of shale oil and gas expected little more. Now BHP Billiton pulls the ripcord and wants to repel the division.
The former BHP Chairman Jac Nasser had recently acknowledged that the investment of 20 billion US dollars in the shale oil business six years ago had been, in retrospect, a mistake. According to analysts, the group is expected to achieve today in the case of a sale of only the half of the sum. HP is currently the eight largest conveyor of shale oil in the United States.
Candidate of the hedge Fund
BHP Billiton bows to the pressure of its investors, all of various hedge funds. On Tuesday, the group said, the area of shale oil on the count of the core area of the own shops. Exactly the required hedge funds such as Elliott Management, or Tribeca. You want to make the shareholders more money.
Nickel mine of BHP Billiton in Ravensthorpe, Australia
The new line goes back to the new Board of Directors, chief Ken MacKenzie, the only in the next month officially into office, but the decision had already been prepared in discussions with investors. MacKenzie, the candidate of the Australian hedge funds was the post Escala for the boss.
The New one comes with a very good business figures to office. HP presented on Tuesday its balance sheet: In the end of June of the past financial year, the Australian made, Japanese-British company made a net profit of $5.89 billion US dollars (4.98 billion euros). In the previous year, the group had made 6.4 billion dollars Minus, it was the largest loss in its corporate history.
New Fields Of Business
BHP Billiton is the largest, most valuable and probably also controversial mining company in the world. The commodity giant promotes worldwide iron ore, coal and copper. In addition, the group is so far in the trade with oil and potassium salt active. In the year 2015 BHP Billiton was involved, together with the Brazilian group Vale in the largest environmental disaster in the history of Brazil: In the case of a mine dams broke, toxic sludge flooded the valley, and contaminated hundreds of kilometers of the Rio Doce and killed 17 people.
The Rio Doce in Brazil after the dam burst near the mine.
The main competitor of BHP Billiton comes a list of business consultancy PwC, also from Australia: Rio Tinto is primarily in the business of iron ore. Another big Player in the commodities business, the Swiss group Glencore is: you deserve your money especially with the promotion of and the trade in bauxite, iron alloys, copper, and coal.
BHP Billiton wants to now focus on new areas of business, and the money should also be rich thanks to the sale of the shale oil business. The turnaround in the auto industry, the electric drive requires new raw materials in large quantities: Nickel sulfate, an important component of car batteries. Now BHP Billiton wants to become the largest supplier of the raw material. By 2019, the group wants to put millions in the Expansion of a production plant, to eject 100,000 tonnes of Nickel sulphate per year.
ar/bea (dpa, rtr, ap archive)