BHP Billiton issued a media release this morning our time: Focusing on Operating and Capital Productivity, in which they suggest that they can save more money. 4 billion Dollars of annualised productivity gains, which is half a billion Dollars more than previously guided. Reducing spend with no change in volume growth. There is also an associated presentation, titled Maximising value and shareholder returns. A few slides in there of importance, one of the more interesting ones is the post demerger, the core business will only have four legs, Petroleum & Potash, Copper, Iron Ore and Coal, 19 other assets ditched. Simpler management structures, less duplication means higher cost savings. NewCo, the company with all the other assets will list sometime in the middle of next year, we can cross that bridge of what to do when we get to it.