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BHP Billiton's Chairman Don Argus (L) and Chief Executive Officer Marius Kloppers hold a news conference after the company's annual general meeting in Melbourne November 27, 2008. Global miner BHP Billiton painted a gloomy near-term outlook for metals demand on Thursday as it defended its decision to drop a $66 billion bid for rival Rio Tinto.
BHP Billiton's Chief Executive Officer Marius Kloppers speaks during a news conference after the company's annual general meeting in Melbourne November 27, 2008. Global miner BHP Billiton painted a gloomy near-term outlook for metals demand on Thursday as it defended its decision to drop a $66 billion bid for rival Rio Tinto.
BHP Billiton's Chairman Don Argus speaks during a news conference after the company's annual general meeting in Melbourne November 27, 2008. Global miner BHP Billiton. painted a gloomy near-term outlook for metals demand on Thursday as it defended its decision to drop a $66 billion bid for rival Rio Tinto.
BHP Billiton Chief Executive Officer Marius Kloppers delivers a speech during BHP's Annual General Meeting in Melbourne November 27, 2008. Global miner BHP Billiton painted a gloomy near-term outlook for metals demand on Thursday as it defended its decision to drop a $66 billion bid for rival Rio Tinto.
BHP Billiton Chief Executive Marius Kloppers (R) gives a speech while Chairman Don Argus listens during BHP's annual general meeting in Melbourne November 27, 2008. Global miner BHP Billiton painted a gloomy near-term outlook for metals demand on Thursday as it defended its decision to drop a $66 billion bid for rival Rio Tinto.
BHP Billiton Chief Executive Marius Kloppers addresses the company's AGM saying the world's biggest miner was in a better position to cope with a slowdown in demand than its rivals and would continue to invest in growth projects, in Melbourne on November 27, 2008. BHP expects Chinese steel production will fall by about 17 percent and that this will flow through to the entire industry and BHP Chairman Don Argus told the meeting that a 70 billion US dollar bid for rival Rio Tinto had been dropped because it would not have been in their best interests.
BHP Billiton Chairman Don Argus (C) addresses the company's AGM saying the world's biggest miner was in a better position to cope with a slowdown in demand than its rivals and would continue to invest in growth projects, in Melbourne on November 27, 2008. BHP expects Chinese steel production will fall by about 17 percent and that this will flow through to the entire industry and BHP Chairman Don Argus told the meeting that a 70 billion US dollar bid for rival Rio Tinto had been dropped because it would not have been in their best interests.
Anti-uranium mining protesters stand on barrels outside BHP Billiton's AGM where the world's biggest miner said it was in a better position to cope with a slowdown in demand than its rivals and would continue to invest in growth projects, in Melbourne on November 27, 2008. BHP expects Chinese steel production will fall by about 17 percent and that this will flow through to the entire industry and BHP Chairman Don Argus told the meeting that a 70 billion US dollar bid for rival Rio Tinto had been dropped because it would not have been in their best interests.
BHP Billiton Chief Executive Marius Kloppers (R) and Chairman Don Argus (L) address the company's AGM saying the world's biggest miner was in a better position to cope with a slowdown in demand than its rivals and would continue to invest in growth projects, in Melbourne on November 27, 2008. BHP expects Chinese steel production will fall by about 17 percent and that this will flow through to the entire industry and BHP Chairman Don Argus told the meeting that a 70 billion US dollar bid for rival Rio Tinto had been dropped because it would not have been in their best interests.
BHP Billiton Chief Executive Marius Kloppers arrives at the company's AGM before saying the world's biggest miner was in a better position to cope with a slowdown in demand than its rivals and would continue to invest in growth projects, in Melbourne on November 27, 2008. BHP expects Chinese steel production will fall by about 17 percent and that this will flow through to the entire industry and BHP Chairman Don Argus told the meeting that a 70 billion US dollar bid for rival Rio Tinto had been dropped because it would not have been in their best interests.
BHP Billiton Chief Executive Marius Kloppers (R) and Chairman Don Argus (L) address the company's AGM saying the world's biggest miner was in a better position to cope with a slowdown in demand than its rivals and would continue to invest in growth projects, in Melbourne on November 27, 2008. BHP expects Chinese steel production will fall by about 17 percent and that this will flow through to the entire industry and BHP Chairman Don Argus told the meeting that a 70 billion US dollar bid for rival Rio Tinto had been dropped because it would not have been in their best interests.
BHP Billiton Chief Executive Marius Kloppers arrives at the company's AGM before saying the world's biggest miner was in a better position to cope with a slowdown in demand than its rivals and would continue to invest in growth projects, in Melbourne on November 27, 2008. BHP expects Chinese steel production will fall by about 17 percent and that this will flow through to the entire industry and BHP Chairman Don Argus told the meeting that a 70 billion US dollar bid for rival Rio Tinto had been dropped because it would not have been in their best interests.
In this undated photo released by BHP Billiton, the BHP Billiton Atlantis oil and gas rig in the deepwater Gulf of Mexico, approximately 130 miles (208 kilometers) off the coast of Louisiana. Mining giant BHP Billiton Ltd. said it was looking for other takeover targets during the current global financial turmoil, after abandoning its US$68 billion hostile bid for Rio Tinto citing risky conditions, Wednesday, Nov. 26, 2008.
In this undated photo released by BHP Billiton, an aerial view shows the Olympic Dam mine in South Australia. Mining giant BHP Billiton Ltd. said it was looking for other takeover targets during the current global financial turmoil, after abandoning its US$68 billion hostile bid for Rio Tinto citing risky conditions, Wednesday, Nov. 26, 2008.
Combination file photograph of BHP Billiton CEO Marius Kloppers (L) speaking in London June 23, 2008 and Rio Tinto CEO Tom Albanese at a news conference in Montreal July 12, 2007. Top global miner BHP Billiton walked away from its $58 billion hostile offer for rival Rio Tinto on November 25, 2008, citing worsening market conditions and European regulators' demands it sell prized iron ore and coal assets.
A bucket wheel reclaimer collects ore at the BHP Billiton iron ore loading facility in Port Hedland, about 1,600 km (960 miles) north of Perth, in this May 26, 2008 file photo. Top global miner BHP Billiton walked away from its $58 billion hostile offer for rival Rio Tinto on November 25, 2008, citing worsening market conditions and European regulators' demands it sell prized iron ore and coal assets.
BHP Billiton Chairman Don Argus addresses the media following the mining giants annual general meeting in Melbourne, Australia, Thursday, Nov.27, 2008. BHP Billiton Ltd. said Thursday it was better placed than its rivals to survive the global financial crisis, but warned it was not immune to its effects, including an expected 17 percent downturn in Chinese steel production.
BHP Billiton Chief Executive Officer Marius Kloppers speaks during a press conference after the mining giants annual general meeting in Melbourne, Australia, Thursday, Nov.27, 2008. BHP Billiton Ltd. said Thursday it was better placed than its rivals to survive the global financial crisis, but warned it was not immune to its effects, including an expected 17 percent downturn in Chinese steel production.
BHP Billiton Chairman Don Argus, left, addresses the mining giants annual general meeting as Chief Executive Officer Marius Kloppers looks on in Melbourne, Australia, Thursday, Nov.27, 2008. BHP Billiton Ltd. said Thursday it was better placed than its rivals to survive the global financial crisis, but warned it was not immune to its effects, including an expected 17 percent downturn in Chinese steel production.
Anti-nuclear protesters demonstrate outside the BHP Billiton annual general meeting in Melbourne, Australia, Thursday, Nov. 27, 2008. Mining giant BHP Billiton Ltd. said Thursday it was better placed than its rivals to survive the global financial crisis, but warned it was not immune to its effects, including an expected 17 percent downturn in Chinese steel production.