EnergyWatch

BHP's new chairman heralds era of tougher focus on spending

A new era of more disciplined spending is on the cards under a new chairman at Australian mining giant BHP Billiton.

Photo: BHP Billiton

BHP Billiton Ltd.'s moves to ditch its U.S. shale assets and halt a rush into the potash market signal an era of more disciplined spending under the top miner’s incoming chairman.

Montreal-born Kenneth MacKenzie, 53, who takes up the post next month, is viewed by investors and analysts as more likely to focus on investment returns, after influencing BHP's decisions to exit shale and delay proceeding on the USD 4.7 billion first phase of the Jansen project in Canada.

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