Autonomous Cargo Ships Extend Miner’s Technology Drive to Seas

By David Stringer (Bloomberg) -- BHP Billiton Ltd., the world’s biggest mining company, is studying the introduction of giant, automated cargo ships to carry everything from iron ore to coal as part of a strategic shift that may disrupt the $334 billion global shipping industry. “Safe and efficient autonomous vessels carrying BHP cargo, powered by BHP gas, is our … [Read more...]

BHP Says `Bloody Awful’ Trade Pledges Risk Deflating Trump Pump

By David Stringer and Danielle Bochove (Bloomberg) -- The head of the world’s biggest mining company intensified his warnings that U.S. trade protectionism under President Donald Trump would threaten global growth and the fight against poverty. While applauding efforts by the administration to boost U.S. growth and infrastructure spending, BHP Billiton Ltd. Chief … [Read more...]

Gulf of Mexico Lease Sale Reflects Today’s Depressed Offshore Market

  The Department of the Interior’s latest oil and gas lease sale covering nearly 22 million acres in the western Gulf of Mexico drew little interest from offshore companies on Wednesday, reflecting weakened market conditions driven by the plunge in oil prices. The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) Lease Sale 46 was held Wednesday … [Read more...]

BHP Billiton and Rio Tinto Seen Pursuing Faulted Strategy

By Jasmine Ng (Bloomberg) -- The biggest iron ore producers including BHP Billiton Ltd. and Rio Tinto Group are pursuing a flawed strategy by flooding an oversupplied market and they should slow down expansion plans, according to the premier of Western Australia. “The signal’s going out to the market that there’s going to be ever-increasing amounts of iron ore available … [Read more...]