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London - BHP Billiton [JSE:BIL] said on Monday that it expected to limit annual capital expenditure to $14bn after a planned demerger next year.
The company's capital and exploration expenditure declined by 32% in 2014 to $15.2bn, chief executive Andrew Mackenzie said in a presentation to investors.
"Our level of investment is expected to decline again in 2015 to $14.8bn and be no more than $14bn beyond the demerger," he said.
READ: BHP unveils $14bn spin-off, profit up 8%
Previously, BHP had said it was targeting annual capital expenditure to below $15bn.
BHP, the world's biggest mining company, in August announced plans to spin off operations worth roughly $16bn to focus on its most profitable activities.
The company's capital and exploration expenditure declined by 32% in 2014 to $15.2bn, chief executive Andrew Mackenzie said in a presentation to investors.
"Our level of investment is expected to decline again in 2015 to $14.8bn and be no more than $14bn beyond the demerger," he said.
READ: BHP unveils $14bn spin-off, profit up 8%
Previously, BHP had said it was targeting annual capital expenditure to below $15bn.
BHP, the world's biggest mining company, in August announced plans to spin off operations worth roughly $16bn to focus on its most profitable activities.
