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CCTV Script 19/11/15

- This is the script of CNBC's news report for China's CCTV on November 19, Thursday.

Welcome to CNBC Business Daily, I'm Qian Chen.

It has been a challenging year for iron ore miners across the state, who have been under pressure to slash costs to counter crashing iron ore prices.

Mining giant BHP Billiton on Thursday defended its progressive dividend policy even as share prices and profits slump this year amid slowing growth in China and a recent mine disaster in Brazil.

Let's just quicky go over what happened to BHP's balance sheet this year so far.

Feb 24 - H1 profit - 47.4%

May 25 - South 32

Aug 25 - FY profit - 86.2%

And most recently, the mining, metals, and petroleum company has come under pressure in recent months on the back of a slump in commodities prices.

Recently its problems worsened after a mine-waste dam in Brazil burst at the Samarco iron ore mine it co-owns with Vale.

There have also been talks around revising BHP's dividend policy as the company struggles to produce favorable numbers.

[TIM SCHROEDERS Pengana Capital Portfolio Manager ] "just put a spotlight on the company's vulnerabilities, as we see here today, the company's going toward roughly possible what it's expected to pay at in dividend, should the progressive dividend policy be maintained, that's clearly unsustainable on an ongoing basis, and in light of an exogenous event such as what's going on in brazil, it must put the bhp board under pressure to at least reveal that progressive dividend policy. "

On the production perspective, analysts say these producers are NOT reducing outputs, but rather, increasing, aiming at seizing market shares.

[JAMES WILSON Morgans Resource Analyst] "What we are seeing at the moment, one of the major things is actually they are increasing capacity because they are cutting cost, as we sope to Fortescue the other day, reducing costs down, to the Tins, and we expect BHP and also Rio will be working on the similar things, and continue or increasing output because of those low-unit costs. "

CNBC's Qian Chen, reporting from Singapore.

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