BHP's China challenge

BHP chief executive Andrew Mackenzie has travelled the world telling rooms full of fund managers and analysts that the world’s biggest mining company most important task is cutting costs, but he has almost no influence over perhaps the most important determinant of the company’s bottom line, demand.

BHP chief executive Andrew Mackenzie has hardly sat still in his six weeks on the job. The Scot has travelled the world telling rooms full of fund managers and analysts that the world’s biggest mining company most important task is cutting costs. The reception to this message has been of almost universal praise. But Mackenzie has, of course, almost no influence over perhaps the most important determinant of the company’s bottom line, demand.

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