BHP mulls over boosting exploration budget to US$900m
Global miner counts on new finds of oil and copper to drive growth
Tue, Jun 28, 2016 - 5:50 AM
The figure represents 18 per cent of BHP's total capital budget of US$5 billion over fiscal 2017 and comes amid efforts by big miners to maintain growth while tightening balance sheets.
BHP Billiton said on Monday it plans to boost its exploration budget by 29 per cent to around US$900 million next year, as the global miner counts on new finds of oil and copper to drive growth in a tough market rather than mergers and acquisitions.