BHP executives in talks with Trump on resources
EXECUTIVES from BHP Billiton have met with US President-elect Donald Trump for talks on the industry, as the incoming administration’s pledges to boost infrastructure spending lift metals and producers.
The chief executive, Andrew Mackenzie, and the chairman, Jacques Nasser, met this week with Trump and Vice President-elect Mike Pence to discuss subjects including the resources sector and BHP’s investments in the US, according to a BHP statement yesterday.
Mackenzie told investors at a November meeting that BHP hoped Trump’s administration would honour commitments by the US to global climate change accords, while Nasser warned at the meeting over risks of any move by the president-elect to impose large tariffs on Chinese imports. The company declined to immediately provide details of specific issues discussed in this week’s talks.
Trump’s signals that he could spend billions of dollars to rebuild US infrastructure lifted metals and producers in the wake of his election. The Bloomberg World Mining Index has advanced about 4.6percent since Trump’s victory, while the London Metal Exchange Index of six key metals jumped about 6percent.
BHP stock rose 2.6percent in Sydney yesterday to the highest close since December 13. – Bloomberg