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Metals Probe Not a ‘Fundamentally Significant Issue for the Industry’, says BHP

Posted on 03 July 2014

BHP Billiton Ltd. played down fears that a probe into commodity-backed loans in China would have a lasting effect on the mining industry. Mike Henry, marketing president for BHP, said Wednesday that jitters about the investigation were overblown and that it hadn’t affected BHP or the broader industry “in any serious way.” BHP is the world’s largest miner by market value.
Metal traders recently warned China’s commodity imports could face an extended fall from near-record rates as banks withhold credit and customs officials tighten checks on incoming shipments. That followed allegations a Chinese trading company illegally pledged metals as collateral to more than one lender………………………………………..Full Article: Source


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