These Miners Are Decliners
Down under in Australia, new BHP Billiton CEO Andrew Mackenzie has just laid out a plan to cut capital spending "quite significantly" over the next few years. BHP's capital investment will drop from $22 billion to $18 billion in 2014 -- and then keep falling.
According to Mackenzie, this reduced spending on capex is going to release a gusher of free cash flow at the company. But what does it mean for other companies that sell to BHP? Listen in, as Fool.com contributor Rich Smith explains...
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The article These Miners Are Decliners originally appeared on Fool.com.Motley Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Electric Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.