BHP has made some significant forex losses whilst gaining on the...

BHP has made some significant forex losses whilst gaining on the crossroads as well. They will at some stage bring to book, very large investments made in Algeria, Iraq, Iran and other hot spots that will not come on stream for a while yet. By that it is meant not within their budgeted time frame.

The amounts dispensed with in these areas (in Iraq before Saddam's down fall) run into at least $1.5 billion from one estimate. The facts though are very difficult to determine with great accuracy as the company operates behind a wall of silence not unlike when it was purchasing the great copper white elephant for several billions or when a few 'good ole boys' decided shareholder funds were worth putting into Beswick corp.

There is little anyone can o as it will be a costly exercise to try to obtain much more information about the operations of this now worldly giant. Because transferring funds and assets and losses from one jurisdiction (very hard basket) to another (very secretive and convenient) is a lot easier and lawful.

In short and to conclude they will not be going under in the short term. In fact they will be far ahead of others if the war in Iraq hots up and enters into the 'point of no return' stage which is not far off. It will be a battle of attrition and a long drawn out one at that. Hows 20 years for a guess??