To Marius Kloppers this is no longer in doubt

Yesterday, in the General Assembly of its shareholders, in Brisbane, Australia, BHP Billiton is back on its project in the iron ore with its competitor and countryman Rio Tinto, the number two world. "I remain confident that our work to reach final agreements has reinforced more than ever our relations", the Director General, Marius Kloppers said.

This General Assembly, which was that of London, a month ago, also confirmed the leadership team in its functions. Signs that their policy well befit their shareholders. The leaders of the first global mining conglomerate have benefited from this rostrum to silence rumours on the abandonment of the transaction. "Critics are people who would not support the project." "This is the case of one side or the other and this is certainly not the case of the majority of the shareholders," said its President, Don Argus, at this meeting. On 15 October, the partners had yet reviewed their copy under pressure from the steel. Indeed, the new entity will not market up to 15 of its product. Sale of extracted iron ore will be fully carried out by the two groups separately. A way to give committed both the customers and the competition authorities. To Marius Kloppers, this is no longer in doubt. According to him, everything will be sealed off by the end of the year. Behind the original program, as is the signing of the agreements between the two parties. Optimistic when it comes to the approval of competition authorities. The European Commission had been very critical on the global approximation of two mining companies, last year, precisely because all would have represented more than a third of world exports.

Cost reduction

Five months after the launch of the project, which will weigh more than 100 billion dollars, it remains true today for BHP Billiton. "The joint-venture for the production of iron ore from Western Australia illustrates our commitment to increase our production capacity." "We expect this project that it identifies a significant value of the synergies of the two companies of iron ore resource," said Don Argus in this Assembly. The two groups expect a reduction of the costs of more than 10 billion. By signing on June 5 with BHP Billiton, Rio Tinto had put an end to negotiations with Chinese Chinalco, which would have seen it rise from 9 to 18 in its capital, in Exchange in addition to 19 billion in fresh money. Rio Tinto has preferred to carry out a capital increase of $ 15.2 billion and marry a pan of its business with BHP Billiton.

This scenario does not like in Beijing, whose country is the largest importer. The Chinese are still trying to ensure its consumption. State Citic Pacific company declared recently prepared to record expenditures for the same ore of low quality from the island-continent to deal with the explosion of China's domestic demand and diversify supply sources.

In addition, Don Argus, which was the last delivery at the head of the House since it will leave its place to Jac Nasser next year, regretted the number of fatal accidents, which while declining, remains "unacceptable". Since the beginning of the year, BHP Billiton had to deplore the death of seven minors whose five, precisely, in areas of operation in the West of the Australia iron ore.