BHP to reduce costs, capex

Mackenzie reaffirms production guidance, says miner set to keep cutting costs.

BHP Billiton (BHP) chief executive officer Andrew Mackenzie has reaffirmed production guidance and told shareholders the miner is set to build on the reduction in cash costs it delivered in fiscal 2013, as well as reducing capex.

"The company's productivity agenda has the potential to create more value than anything else we do," Mr Mackenzie told an investor briefing in Houston, in the United States.

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