AGM season in full swing: BHP Billiton
The dam failure in Brazil dominated BHP Billiton's AGM. The company discussed its approach to identifying the cause, and early response efforts. Otherwise, BHP detailed its continued efforts to raise productivity, and it forecast a substantial decrease in capital and exploration expenditure in coming years. This is in response to the difficult current operating conditions (low commodity prices). The company reiterated its continued commitment to its progressive dividend policy, but also indicated that it would not jeopardise balance sheet strength.