The chief executive of BHP has signalled that the world’s biggest mining company will resist the temptation to go on an acquisition spree despite a growing war chest.
Mike Henry told the Financial Times that “we want to be quite disciplined” and that the company would look to exploration, organic growth and higher productivity to raise its output.
BHP’s unsolicited A$8.4bn bid for OZ Minerals in August was swiftly rejected by shareholders, fuelling speculation it might come back to the table with a more generous offer.
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