|
|
Billiton and Anglos acquire BHP's Manganese ops
Billiton and Anglo American have acquired Broken Hill's manganese operations for A$653m.
|
| |
Billiton's Coega project hits snag
Billiton is struggling to find a partner for its Coega zinc smelter because of the depressed metal price. This could delay the project by 6 months to a year.
|
| |
Billiton optimistic over coal
Billiton has forecast further declines in the steam coal export contract prices, but despite these short term problems, they are optimistic over an increase in the currently weak global demand. Increased demand for power generation in SA will trickle in over the next few years as Eskom's overcapacity shrinks along with progress on its electrification programme. Eskom is expected to cut back on production in 1999 as demand is expected to drop.
|
| |
Billiton to review its stake in Columbus
Continued losses at Columbus and its effect on the Billiton bottom line have forced a rethink on holding this investment. Factors in the decision include an expected 4% - 5% annual growth in the steel industry and Columbus very close to breakeven on a pre-tax basis. But, Billiton does not need the cash. Another alternative is for Anglos, which has a right of first refusal over Billiton and the IDC's stake, may offer its 18.9 stake in Samancor for Billiton's <33% stake in Columbus.
|
| |
| |
|
| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
| |
|
|
