BHP unveils plans to grow by 70% 'even without a recovery in commodity prices'

BHP Billiton has unveiled a major new growth strategy by outlining plans to increase investment in the production of copper and petroleum without waiting for an upturn in commodity prices, according to the Sydney Morning Herald.

Speaking at the Bank of America Merrill Lynch mining conference in Miami on Tuesday, chief executive Andrew Mackenzie presented a “roadmap” of existing growth opportunities and productivity gains he claimed could potentially increase the value of BHP by 70% “even without a significant recovery in commodity prices”

Glencore says stage is set for metals to rally

The resurgence in mining shares this year may be just getting started, if Glencore's assessment is right, according to the Australian Financial Review.

Demand is set to exceed supply for zinc and some other industrial metals, the mining and trading company said at a conference Tuesday. The outlook comes after supply gluts and three years of declining prices deterred production.

BHP Billiton, the world's biggest mining company, said separately that it isn't waiting for prices to recover as it boosts investments in copper and oil.

Saracen Mineral Holdings hits its straps as Thunderbox mine ramps up

Growing gold producer Saracen Mineral Holdings has proved a worthwhile investment for Kerry Stokes, whose stake in the miner has more than tripled in value in less than two years, according to the Australian Financial Review.

Stokes' investment vehicle Wroxby is Saracen's second biggest individual shareholder, holding an 8.2% stake worth about $75 million at Tuesday's close.