Fresh on the heels of reporting a full year profit drop BHP Billiton Limited’s
(ASX:BHP) chief says the company’s emphasis is now on cost control.
CEO Marius Kloppers told ABC TV yesterday the global miner expects commodity prices to fall further but that BHP takes a long term view of where prices and demand are going and invests in the products that are going to be most in demand.
Mr Kloppers says while the absolute demand growth for products is going to be lower than recent years BHP still believes both the company and Australia have very attractive opportunities.
Though BHP revealed last week will not meet the December deadline for deciding on its Olympic Dam copper and uranium mine expansion Mr Kloppers yesterday affirmed the company’s commitment to it, claiming it will be a very major mine in due course.
BHP’s net profit fell 35 per cent to $15.2 billion in the 2012 financial year.
