BHP Billiton execs meet Donald Trump for ‘productive’ talks

BHP Billiton execs meet Donald Trump for ‘productive’ talks

BHP Billiton’s (ASX:BHP) leadership team have met with President-elect Donald Trump to discuss the global mining giant’s position in the US.

BHP is the largest overseas investor in US shale oil and gas, it has offshore rigs in the Gulf of Mexico and a joint venture with Rio Tinto for a copper project in Arizona.

Chairman Jac Nasser and chief executive Andrew Mackenzie met with Trump and Vice-President-elect Mike Pence and Trump Towers in New York.

The company said the group had ‘productive talks’ at Trump’s residence.

“They discussed a wide range of subject areas, including the global resources sector, and BHP’s investment in the US,” a BHP Billiton spokesman said in an email to ABC.

“The company looks forward to working with the new administration.”

However, in November Nasser told the BHP Billiton AGM that should Trump push ahead with 45% tariffs on Chinese imports it would lead to ‘trauma’ for world trade.

However, he scaled back saying Trump would likely dilute some of his policies once in office.

“What you have seen in the US political process recently is quite a lot of rhetoric and some of which will happen and some of it won’t,” Mr Nasser said at the time.

“I happen to think we should wait … until we see what some of the key cabinet appointments are, made by this new administration.”

Mr Trump has said he also plans to spend hundreds of billions of dollars on infrastructure programs. That would create a need for the raw materials that BHP produces.

@RGNonline