20 February 2013 15:28 [Source: ICIS news]
TORONTO (ICIS)--The leadership change at Anglo-Australian mining major BHP Billiton is not likely to affect the company’s plans for the giant ?xml:namespace>
In 2010, Kloppers failed in a high-profile $39bn (€29bn) bid to acquire
Terence Ortslan, managing director of Montreal-based mining and metals research firm TSO & Associates, said that the change in CEO should not affect Jansen.
While Mackenzie would undoubtedly reallocate BHP’s capital spending, sell some assets and may slow some projects, Jansen was a viable long-term project whose full development went beyond the “lifecycle of a CEO, it takes a long time to do it,” Ortslan said.
Potash remained a great industry to be in and assets such as Jansen were hard to come by, he added.
However, some Canadian market observers have said that it may be unwise for BHP to move forward with Jansen, at least in the short run, given current and projected potash prices.
($1 = €0.75)
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