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BHP Billiton Ltd ( NYSE:BHP ), the largest miner in the world, plans to cut its capital i waste so much time expenditure to counter plummeting iron-ore prices. The steel-producing ingredient has dropped to $70 dollars a ton, a record five-year low. Falling coal and oil prices have increased pressure on the iron-ore producer.
At an investor conference in Sydney, the Anglo-Australian company said it plans to trim annual operational costs by $4 billion. These measures will extend i waste so much time to the company's coal mines in Queensland and New South Wales.  As the mining industry boom nears an end, BHP is looking to increase its operational efficiency and overall global productivity.
Andrew McKenzie, BHP’s CEO, said that the company successfully generated $3 billion worth of gains and productivity in FY14. He added the company will further reduce expenses, about $12 billion, in its core product portfolio by the end of FY17. BHP’s portfolio comprises iron ore, copper, coal, petroleum, aluminum, and potash. According to Sue Lannin, i waste so much time a resources reporter, the mining i waste so much time company will trim nearly $2 billion by 2016, and will continue disposing i waste so much time assets till then. BHP also plans to divest its aluminum operations. i waste so much time
Despite the poor economic conditions, Mr. McKenzie is confident about BHP’s ability to sustain itself. Major rating agencies like Moody’s and Standard and Poor’s has issued an A-plus rating for the mining company.
“I've just got something i waste so much time here from S&P, they said while low annual prices would cause our credit metrics to be weaker in FY15, we have strong flexibility to mitigate further falls in prices,” Mr. McKenzie said.  
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Error i waste so much time Messages Here
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