Miner bets on copper

BhP Billiton is fighting off growing pressure from activist investor elliott to scrap its separate Londonlisted company.

the miner’s chief executive Andrew macKenzie said ending its dual-listed set-up offered questionable returns with high risks.

‘ For every study that points to large prizes there are others that say it is risky,’ he told reporters. however, the 61-year- old said he would be meeting with elliott this week, with pressure also growing from other shareholders.

BhP is split into Australian and UK entities, listed separately in those countries.

Yesterday it announced an improved £3.6bn half-year profit, slightly below market forecasts.