The biggest corporate shuffle during the period ended March 16 was carried out by the world’s largest mining company, BHP Billiton. The major has brought its customer-sector-groups division under three other business areas: non-ferrous metals, carbon-steel materials, and energy. Among several changes, Mike Salmon — aluminum-operations president, senior minerals executive and an executive director — will become group president of the non-ferrous metals operations, and Bob Kirkby will become group president of carbon-steel-materials operations even as he retains his responsibility for BHP’s iron-ore, metallurgical-coal and manganese businesses. The diamonds and specialty-products customer-sector groups will report to Chief Commercial Officer Marius Kloppers, while Marcus Randolph, president of diamonds and specialty products, will assume responsibilities in the area of business development. BHP closed the period down US64 to US$18.20.
Retreating US$1.01 to US$14.44, South Africa’s Harmony Gold Mining made an offer to acquire all the common shares, listed options and unlisted options that it doesn’t already own in Australian-listed Abelle Ltd., which has gold projects in Papua New Guinea. The offer is worth 620 million rand, or about US$92 million. Harmony already owns 83.2% of Abelle’s ordinary shares and 69.7% of its listed options.
Patriot Gold plummeted 22% to US$1.98 after buying the past-producing high-grade Moss mine in Arizona’s historic Oatman gold district. Patriot is now following up on 30,000 ft. of drilling carried out in the 1980s and early 1990s.
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