BHP ex­ec­u­tives in talks with Trump on re­sources

The Star Early Edition - - NEWS -

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

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.