BHP Billiton (BHP) is an international diversified miner, and is Australia’s largest company. Its major resource divisions encompass iron-ore, copper, aluminium, base metals, diamonds, coal, manganese, diamonds and petroleum.
Recent events have made BHP one of the stocks to watch.
On April 21, BHP announced that some of its employees may have breached anti-corruption laws in the US, prompting an investigation by the SEC.
Although details were scarce, BHP noted that the investigation relates to small mineral exploration projects which the miner terminated around 12 months ago.
BHP also reported its 1Q10 production results. Iron-ore output rose 11% on-year, while copper output declined 19% in the same period.
While production numbers came in slightly below analyst expectations, BHP noted that output was impacted by weather-related disruptions and limited stockpile capacity.
BHP’s international profile makes it one the key stocks to watch, and corruption allegations are serious enough for investors to keep a close eye on it.