BHP Billiton Likely “Finished for a Time” with Coal

The Telegraph reported that although BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT) Chief Executive Andrew Mackenzie describes coal as one of the pillars the company will build its future on, he thinks BHP is “probably finished for a time investing in coal.”

As quoted in the market news:

‘We’re building this company’s future on four, possibly five pillars: iron ore, coal, petroleum and copper and we’ve started to talk about potash,’ Mackenzie said yesterday.

Mr Mackenzie said more of the company’s growth capital was likely to go towards petroleum, copper and potash. ‘We’ll see how we go with iron ore, but we’re probably finished for a time investing in coal,’ he said. The Jansen investment will allow the company to finish work on excavating and lining production shafts at the site. It is seen as underscoring BHP’s efforts to diversify its portfolio as the Asia-driven mining boom slows.