Rio Tinto sees a battery-powered future

RIO Tinto believes Powerwall batteries also loom as another shape-shifter for new energy materials markets, according to the Australian Financial Review.

The basic thematic there is that the most efficient way to draw power from established grids increasingly exposed to the flukiness of renewable energy will be to develop efficient domestic power storage capacity.

Morgan Stanley observes that manufacturers will increasingly fund research aimed at sating customer and regulatory demands for lighter, higher energy, longer life battery technologies.

Boart flags continued losses

Deeply indebted drilling services contractor Boart Longyear has flagged no near term improvement in its finances as it signalled it would not be “cash-neutral” until 2017 as it continues to lose money, according to the Sydney Morning Herald.

Boart Longyear is not alone with other locally listed drillers such as Ausdrill, Mitchell Services and Hughes Drilling all reporting lower revenues and earnings.

Revenue at Boart Longyear fell another 24% to just $US45 million in the March quarter reflecting ongoing declines in prices along with activity.

BHP dividend expectations improve on lower cost guidance

BHP Billiton's plan to continue to push down production costs across its biggest businesses could boost its dividend by more than 10% this year, according to the Sydney Morning Herald.

Credit Suisse said better than expected cost guidance revealed by the global miner at a conference in Miami last week improved its earnings forecasts for the next two years and could see a US25¢ per share dividend delivered to shareholders this financial year, up 10.8% from a previous forecast of US23¢