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  • BHP also revamped the company's structure in a bid to simplify its operations, creating U.S. and Australian mineral divisions in a move that will see its longtime iron ore chief Jimmy Wilson and petroleum head Tim Cutt depart. The size of the dividend cut, down from 75 cents to 16 cents, was more severe than market expectations for a payout as high as 35 cents.

  • BHP Billiton losses

    The market will like having clarify on BHP's dividend policy as well as the miner's reduced capex forecast, says Rob Brierley of Patersons Securities.

  • SYDNEY, Feb 23- Top global miner BHP Billiton slashed its interim dividend by 75 percent on Tuesday, cutting it for the first time since 1988 following a collapse in prices for oil, iron ore, coal and other raw materials. "Slower growth in China and the disruption of OPEC have resulted in lower prices than expected," BHP Chief Executive Andrew Mackenzie said in a...

  • SYDNEY, Feb 23- Top global miner BHP Billiton slashed its interim dividend by 75 percent on Tuesday, cutting it for the first time since 1988 following a collapse in prices for oil, iron ore, coal and other raw materials. The world's biggest diversified miner reported a net loss of $5.67 billion for the first half of the 2016 financial year, its first loss in more than...

  • *$80 a barrel good for producers and consumers- IEA's Birol. *OPEC willing to do more on glut- SecGen. IEA executive director Fatih Birol told CERAWeek, an industry gathering in Houston, that crude oil at $80 a barrel would be good for both producers and consumers, although the agency said in a report a strong price rebound was unlikely under present market conditions.

  • INCA DE ORO, Chile, Feb 22- Like his father before him, Alberto Carrizo has worked in Chile's copper mines since he was a teenager, supporting his family as prices for the metal boomed in recent decades. They are at the sharp end of a commodities downturn that was triggered by slowing growth in China and which has led half of all the small mining operations in top copper...

  • *Iran to lead supply growth within OPEC. LONDON, Feb 22- Oil production in the United States will reach a record high by 2021 as improved efficiency helps domestic producers combat the low prices that are likely to force hefty output cuts this year and next, the International Energy Agency said on Monday. U.S. shale oil was the main target of OPEC's decision in late...

  • LONDON, Feb 22- European stocks rose on Monday as firmer mining company shares helped offset concerns about Britain's potential exit from the European Union, and a fall in HSBC. Signs that the European Central Bank would try to protect banks from being hit too hard by negative interest rates lifted euro zone banking stocks, with bonds and shares in Italy and...

  • NEW YORK, Feb 22- Oil markets jumped as much as 7 percent on Monday as speculation about falling U.S. shale output and a rally in equities fed the notion that crude prices may be bottoming after their 20- month collapse. "For various reasons, traders are growing convinced that the market won't go much lower," said Pete Donovan, crude broker at Liquidity Energy in New...

  • *Break above $1,790 in zinc to spur further buying. Three-month zinc on the London Metal Exchange jumped to an intraday peak of $1,790 a tonne, the strongest since Oct. 23, extending a near 3 percent gain on Friday. Zinc, which turned back after meeting resistance at its 200- day moving average at $1,790, was up 2.2 percent at $1,782.50 by 1533 GMT.

  • LONDON, Feb 22- Oil prices rose 7 percent on Monday after the world's oil consumer body said it expected U.S. shale production to fall this year and next, potentially reducing the glut in supplies that has cut prices by 70 percent in 18 months. International benchmark Brent crude futures were up $1.68, or 5.1 percent, at $34.69 a barrel at 1501 GMT, while U.S. crude...

  • *Iran to lead supply growth within OPEC. LONDON, Feb 22- Oil production in the United States will reach a record high by 2021 as efficiency gains help domestic producers to combat the low prices that are likely to force hefty output cuts this year and next, the International Energy Agency said on Monday. U.S. shale oil was the main target of OPEC's 15- month-old policy...

  • Feb 22- Wall Street was on track to open sharply higher on Monday as prices of crude oil and other commodities surged, pointing to an uptick in investors' risk appetite following a rout in global markets. Crude prices were up more than 5 percent after data showed a fall in U.S. rig counts and the International Energy Agency said it expects U.S. shale oil output to fall.

  • LONDON, Feb 22- Oil prices rose 5 percent on Monday after the world's oil consumer body said it expected U.S. shale production to fall this year and next, potentially reducing the glut in supplies that has driven prices to their lowest level in over a decade. International benchmark Brent crude futures were up $1.61, or 4.9 percent, at $34.62 a barrel at 1326 GMT, while...

  • MILAN, Feb 22- European stocks rose on Monday as firmer mining company shares helped to offset concerns about Britain's potential exit from the European Union and a fall in HSBC's shares. Britain's FTSE 100 was up 1.2 percent, while Germany's DAX gained 1.9 percent and France's CAC rose 1.7 percent. Analysts also cited uncertainty over the outcome of Britain's...

  • LONDON, Feb 22- Oil rose after the world's oil consumer body said on Monday it expected U.S. shale production to fall this year and next, potentially easing a glut that has driven prices to their lowest in more than a decade. International benchmark Brent crude futures were up $1.05, or 3.2 percent, at $34.06 a barrel at 1134 GMT, while U.S. crude futures broke through...

  • *Break above $1,790 in zinc to spur further buying. Investor buying lifted industrial metals along with oil and equity markets, including shares in China, the world's top consumer of metals. Three-month zinc on the London Metal Exchange climbed 2 percent to $1,778.50 a tonne by 1040 GMT, the strongest since Oct. 23, extending near 3 percent gains on Friday.

  • The resource sector is struggling: CEO

    Ian Harebottle, CEO of Gemfields, discusses the sector and shares his company's recent earnings results.

  • MILAN, Feb 22- European shares were higher in early trading on Monday following gains in Asia, and helped by a recovery in the prices of crude oil and other commodities. Miners were the top sectoral gainer, up 2.3 percent, after copper rose to its highest level in over two weeks as an uptick in China's beleaguered steel industry sparked hope for a revival in metals...

  • Arrium's business outlook

    MineLife's Gavin Wendt says Arrium still has to address issues such as cost cutting and deciding if its steel business unit has a future.