Why BHP's shareholders missed the boat

The big miners are winding up their capex in the face of market uncertainty, and their shareholders' demands for excess cash should have come before the boom went a bit bust.

This year’s version of PricewaterhouseCoopers’ annual global mining report is entitled ‘’The growing disconnect,’’ which is a reference to the divergence of the big miners’ strategies and their shareholders’ demands and the market’s expectations. From Marius Kloppers’ comments today, a meeting of minds is rapidly occurring, although perhaps not quite as envisaged by shareholders.

In the earlier part of this year the contest of ideas between the companies and their shareholders has been as PwC describes it.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles