BHP Billiton CFO says bargain deals might not happen

BHP Billiton chief financial officer Peter Beaven has conceded that the opportunistic deals the company has been hoping to make in copper and petroleum may not eventuate, saying it is hard for the mining giant to “find the right price” for assets, according to the Australian Financial Review.

Beaven, who also heads BHP's strategy and business development functions, emphasised that the company was in no rush on mergers and acquisitions, and was keeping a watching brief particularly in petroleum and copper, where a number of big miners, including rival Rio Tinto, are also keen to do deals.

Gold CEOs' worth rising in step with soaring price

A number of the shining gold sectors chief executives have seen the value of their equity stakes escalate, and a few have cashed in, as local gold stocks continue a stellar run, according to the Australian Financial Review.

Over the course of last financial year, ASX gold stocks enjoyed strong gains, including a six-fold increase in the Dacian Gold share price and St Barbara's fourfold increase. According to Macquarie research, seven local gold stocks increased in value by more than 100%.

Barrick targets becoming debt-free within a decade

The Australian Financial Review reports that Barrick Gold, the largest miner of the metal, could be free of debt within a decade on bullion-price gains, cost cuts and asset sales, president Kelvin Dushnisky said.

One of the key asset sales is likely to be its stake in the Australian joint-venture it has with Newmont Mining Corp in their Kalgoorlie Super Pit.