{"id":92632,"date":"2009-12-21T13:52:21","date_gmt":"2009-12-21T18:52:21","guid":{"rendered":"http:\/\/www.businessinsider.com\/the-worlds-1-miner-succeeds-by-completely-ignoring-gold-2009-12"},"modified":"2009-12-21T13:52:21","modified_gmt":"2009-12-21T18:52:21","slug":"the-worlds-1-miner-succeeds-by-completely-ignoring-gold","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/92632","title":{"rendered":"The World’s #1 Miner Succeeds By Completely Ignoring Gold"},"content":{"rendered":"

Back in March 2001, about a year before the start of the so-called commodities supercycle – an event that would blow off across the 12 months commencing mid-2007 – BHP Billiton<\/a><\/span> ranked as the world’s No 2 mining stock, by market value, after Alcoa<\/a><\/span>, the US-based aluminum giant. Today, BHP Billiton has long ranked as the world’s biggest, in all senses, diversified resources stock; Alcoa has slipped to No 31 among global mining groups.<\/p>\n

For investors, the different roads followed by these two, and many other, mining groups have had profound results. In early 2001, BHP Billiton commanded a market value of around US$28bn. That soared nearly ten-fold by the middle of 2008, and after recovering following the great 2008 markets scare, today sits around US$189bn, well ahead of No 2, Vale<\/a><\/span>, the Brazilian supergroup that can overwhelmingly attribute its success to specialising in iron ore.<\/p>\n

Even that dynamic has changed; in early June 2009, Rio Tinto<\/a><\/span> and BHP Billiton announced<\/a> that BHP Billiton would pay Rio Tinto US$5.8bn “for equity type interests at financial close” to take its interest in the two companies’ Pilbara, Australia iron ore joint venture from 45% to 50%.<\/p>\n

Read the whole story at MineWeb >><\/strong><\/a><\/p>\n

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