(MENAFN) BHP Billiton announced plans to cut costs further as the world's biggest miner battles falling commodity prices, pointing to its planned demerger as helping to drive productivity gains, AFP reported.
The Anglo-Australian group is aiming to simplify and strengthen its business, and looking to save USDUS4 billion a year in running costs by the end of the 2017, USD500 million more than previously announced.
"By significantly simplifying the portfolio the proposed demerger will allow us to redesign BHP Billiton and create an organization that supports better productivity," chief executive said.
The company also announced plans to cut exploration costs from USD14.8 billion to USD13 billion by the financial year ending June 2016 "with no impact on growth".
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