Good times wane for BHP
Herald Sun Felicity Williams 28 Nov 08 Two days after BHP dumped its $102 billion bid for Rio Tinto in the face of the global financial crisis, chief executive Marius Kloppers warned the climate made it difficult to predict customer demand.”The world has changed significantly in the past three months and,in our world of mining and resources, that rate of change has accelerated rapidly within the last month,”Mr Kloppers told the 800-odd shareholders attending the company’s annual meeting in Melbourne.
He added: “These challenges are impacting every part of the economy and, as a major global supplier of many key commodities, we will not be immune from the effects.”…………………….
The abandoned Rio bid was the subject of surprisingly few shareholder questions.
Investors appeared more concerned about plans to mine the world’s largest uranium resource at Olympic Dam in South Australia.
Good times wane for BHP
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