Photo Chinese officials in Shandong Province preparing to take samples of iron ore imported from India. Credit Chen Weifeng/European Pressphoto Agency HONG KONG — The commodities giant BHP Billiton spent heavily for years, mining iron ore across Australia, digging for copper in Chile, and pumping oil off the coast of Trinidad. The company could be confident in its direction as commodities orders surged from its biggest and best customer, China.
Now, BHP is pulling back, faced with a slowing Chinese economy that will no longer be the same dominant force in commodities. Profit is falling and the company is cutting its …read more
Source: Iranian.com
