MARKETS SPECTATOR: BHP's Bowen cost blitz

BHP Billiton has focused its cost cutting microscope over its Bowen Basin operations, which could mean further pain for mining services companies.

Mining services companies beware. BHP Billiton has just completed a review of its Bowen Basin coal operations and it is targeting further cost cuts that may cancel existing contracts or reduce payment in others.

In an ASX statement BHP Billiton says costs reviews have been completed across all of the company’s Bowen Basin operations and BHP Billiton has “set clear targets to reduce costs”.

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