Andrew Mackenzie, the man responsible for cutting costs and trimming the fat at the world’s biggest mining group by market capitalisation, BHP Billiton (BLT), can be happy with his performance since taking over at the helm last year.
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Last month the chief executive announced plans to spin off BHP’s non-core assets via a multi-billion-dollar demerger, which was generally well received by the market. He also demonstrated impressive operational improvements: underlying profits shot up 10 per cent to $13.4bn (£8.1bn) in the year ended 30 June. That was the first time since 2011 that BHP registered year-on-year profit growth.