BHP quits US shale as annual profit surges
It is under pressure to rethink its investment in oil and boost shareholder returns
Sydney
BHP Billiton, the world's largest miner, reported a surge in underlying full-year profits on Tuesday and said that it would exit its underperforming US shale oil and gas business, pleasing disgruntled shareholders who had called for a sale.
The Anglo-Australian mining giant, which is under pressure from US hedge fund Elliott Management to rethink its investment in oil and boost shareholder returns, was buoyed by a recovery in industrial commodities markets.
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