BHP To Focus On Value Creation, Says Confident In Long Term Commodity Outlook

(RTTNews) - Andrew Mackenzie, chief executive of BHP Billiton Plc. (BHP.AX, BLT.L, BBL, BHP), while speaking at the Bank of America Merrill Lynch Conference on Tuesday said the company is focused on value creation and growing cash returns to shareholders. He noted that BHP will not wait for recovery of prices.

Mackenzie said that the company remain confident in the long term outlook for commodities. He has outlined five areas for value creation. It will improve productivity and and expects $2.6 billion gains by end of 2017. It expects fall in unit costs.

BHP has plans to invest and to raise copper production by more than 10 percent. It will maximize the value of high quality share assets in a disciplined manner and will increase exploration activities.

Mackenzie said, "We have the financial strength and the flexibility to pursue a diverse range of opportunities and grow value per share at all points in the cycle, and we have a clear and simple strategy in place to deliver that growth."