Protest planned at BHP Billiton AGM

Date of publication: 
25 November 2009

Activists plan to protest at BHP Billiton’s annual general meeting in Brisbane on Thursday morning.

As shareholders and the company’s leaders prepared for the meeting, Friends Of The Earth Australia launched an attack on the mining giant.

The group has published an alternative annual report – BHP Billiton, Undermining the Future – containing examples of the company’s mining activities, which they claim are contrary to its sustainable development policy.

On the corporate front, observers to the meeting will have their ears pricked for an update on BHP Billiton’s planned mega-merger with one-time rival and takeover target Rio Tinto to consolidate their lucrative iron ore assets in Western Australia.

The miners plan to sign a binding merger agreement on December 5.

Other topics of interest will be current global commodities demand, especially China’s appetite for iron ore, and the potential sale of BHP Billiton’s mothballed Ravensthorpe nickel mine in WA.

BHP Billiton shares closed up 96 cents, or 2.39 per cent, at $41.19 on Wednesday.