BHP moves towards Abbott's direct action plan

BHP Billiton boss Andrew Mackenzie has revealed he is in talks with the Abbott government over carbon policy, declaring that its Direct Action measure will protect trade exposed industries, according to the Sydney Morning Herald.

The Abbott government is poised to repeal Labor's carbon tax, with Mackenzie telling the BHP annual meeting of shareholders that his talks with the government had been constructive.

He then appeared to give cautious approval to the Direct Action plan.

“We are looking very keenly with them as to what we can do with their Direct Action measure that will, I think, protect the competitiveness of trade-exposed industries across Australia, not just ours, and really understand how we can drive emissions reductions,” he said.

Wal King and Ron Sayers stay on after surviving Ausdrill protest

Wal King and his fellow Ausdrill director Ron Sayers have vowed to put their recent controversies behind them and continue with the embattled contracting group, according to The Australian.

King, the former long-serving chief executive of contracting heavyweight Leighton Holdings, yesterday survived a significant protest vote to retain his seat on the board of the contractor.

Some 21.9% of shares voted went against his reappointment, which King said was the biggest vote he had received against him.

Gold Fields mines value from acquisitions

South Africa's Gold Fields has wasted no time squeezing savings from its $US270 million ($A290 million) purchase of three mines in Western Australia's Yilgarn region, merging the acquired Lawlers mine with its neighbouring Agnew mine within six weeks after taking them over, according to The Australian.

And despite pulling out of extensive exploration plots around the country, Nick Holland, the Gold Fields chief executive who in the past year has shifted his company's focus from his home country to Australia, says more acquisitions may be on the way if cheap assets are thrown up by under-pressure goldminers.