Kloppers' last act is on costs DEPARTING BHP Billiton chief executive Marius Kloppers has removed $US1.9 billion ($1.83bn) of annual costs, mainly by slashing exploration and development spending, as the mining giant becomes leaner in the face of slowing demand growth for iron ore and coal. The company yesterday reported first-half net profit of $US4.24bn, down 58 per cent from a year ago and the lowest in eight years as commodities prices fell and the company booked $US4bn of pre-tax writedowns on nickel, aluminium and, surprisingly, iron ore.