Legal Aspects of International Business

Question: Discuss about theLegal Aspects of International Business. Answer: Introduction: One of the leading multinational companies in Australia having the purpose in order to create long-term shareholders valuing development and marketing of natural resources is BHP Billiton. It was founded in 2001 and is two companies merged. They are the Anglo-Dutch Billiton and the Broken Hill Proprietary Company Ltd. It has necessary postings in the Australian Securities Exchange. It is a multinational mining company and has its global headquarters in Melbourne, Australia. It produces major commodities like iron ore, uranium, copper and have interests in conventional as well as unconventional gas and oil. It is an attribute to diversify BHP Billiton portfolio. In 2015, BHP Billiton became one of the biggest mining company and the fourth biggest firm which takes into account the income. It ranks fourth according to rankings. It has 80,368 employees and contractors across the globe. It is situated across 16 countries in 96 locations and there is diversity in its environment of work (B eamish, 2013). It has 42,829 employees in Australia. Performance is not granted by BHP Billiton Limited. It operates all the assets continuing in acknowledging the resources for the next generation of the leaders of BHP Billiton. It provides for the health and safety of the people and the communities in which it operates. The operation of BHP Billiton allows at establishing the long lasting relationships with the host communities working together in making a contribution which is positive to lives of the people who live near the society and operation of the firm. It is necessary to grow the company safely and in a responsible method. It is also necessary to diversify the commodity, market and geography. A workforce is required in order for the reflecting the diversity in any forms which includes skills, gender, ethnicity and experience. To embrace the trust, teamwork, relationship which are beneficial reflecting the value of respect and is focussed on the plan of the people in the e fforts aiming to be general bringing pride to the workforce loyalty (Buckley Casson, 2010). There is accountability among the leaders of BHP Billiton Limited for the values of the company to put forward their safety by prioritising the people in order to be excellent and to work with integrity. BHP Billiton operates in South Wales, Western Australia and Queensland and focuses on nickel, copper, coal and iron ore (Wild et al., 2014). It is based on the Pilbara region of northern Western Australia. It is based on the mining operations and two separate port facilities which has its location in Port Hedland. It produces metallurgical coal including advanced quality hard metallurgic coal which is necessary raw material required for steel production. The coal is mostly open pit mines which are bought by collaboration with Mitsui and Mitsubishi Development Pty Ltd. It also produces mainly for electric power industry production in Indomet Coal Project and New South Wales Energy Coal. Regulatory Framework Affecting the Company BHP Billiton works in a controlled and planned way. It is done by making sure that the equipments are in running order and the process of working makes sure of safe operations and there is sufficient training of the people of the people who work in an arranged way. It makes sure that everyone understands the tasks and is ready to perform it. It also makes sure that the employees and the contractors are equally treated providing an environment free from alcohol and drugs. It implements an environment protection measures which addresses pollution prevention in all the phases of the business. It engages as well as supports the community which has operated. It maintains a constant vigilance and readiness in order to prevent and respond to any incidents. It sets HSEC objectives as well as targets which includes prevention of pollution which includes leading that industry. It drives a continual improvement in all the activities. It accepts no level of performance other than No Harm (Cateor a, 2008). It promotes the initiatives through environment of the workplace. It helps in providing resources and support essential for the management. It helps in the participation in the process of risk review. It gives the responsibilities for the contractors in the communication to the personnel relevant. It helps in the execution of a process for the controlled restart of work where it is stopped using the authority to Stop Work. It manages the staffing levels in order to support fulfilment with the needs which are legal and the licence to operate. It reviews the budget for the required personnel. It addresses the number of personnel which have been required competencies as part of the assessment of the staffing levels. Changes in the communication of documents and addresses resulting in the evaluation to the personnel who is affected. It helps in the acknowledgement of material risks which are associated with BHP Billiton Petroleum activities and realization of material risks in a controlled risk register. It involves the appropriate functional representation in assessment of risks. It helps in the acknowledgement of critical control according to BHP Billiton Petroleum which are applicable (Schaffer et al., 2011). It provides the communication for the outcome of the assessment of risk to the stakeholders which are applicable. It provides for the risk based evidences for the justification start up or continuing the operations. It helps in establishing and the execution of a verification process for close out of assessment of risks and the findings and actions. Agreements which Impacted the Products and Services of the Multinational Company For peaceful purposes, Australia sold uranium which establishes the fact that the parties involved to the Treaty on the Non-explosives of the Nuclear Weapons. It has also executed a safeguard the agreement with IAEA or International Atomic Energy Agency. 22 safeguards agreement are in force in Australia. On the basis of IAEA safeguards the safeguarding needs of Australia are based providing the essential assurance that the nuclear material is not utilized in such a manner so that it turns out to be harmful in nature. The negotiation of the joint agreement, the Australian government believe that the problems like the records of proliferation of states and its attainment to the treaties which are applicable. Australian government does not link directly to the nuclear negotiations which are bilateral with other matters identified as concern matters like human rights as well as democratic problems (Dunning, 2013). There is a treaty between Australia and China that the nuclear materials must be used for purposes of peace and will not be used to make weapons or other explosive and the agreement of IAEA safeguards apply to this material. Facilities operators are needed to keep records of nuclear materials to IAEA standards such as NNWS safeguards. Negotiations of safeguarding agreement with the IAEA ratified an AP. As compared to safeguards in NNWS, the safeguards in NWS differ. According to NNWS, there are no similar needs for NWS, the IAEA have decided whether or not conducting the inspection at facilities to declare. Safeguards are used for the achievement of a purpose (Zott et al., 2011). BHP Billiton has the involvement in mining the ores which contain uranium and the production of UOC, it has been committed to the Uranium Stewardship Principles which has developed for reduction of risk to damage to the environment and people the from the effect of the nuclear industry (Griffith et al., 2008). It supports the peaceful and the safe way to nuclear technology and also acts responsibly in the areas which are controlled and managed. It operates ethically with the sound corporate governance and upholds and promotes the basic human rights. It contributes to the economic and social enrichment of the region which is operated and provided responsible sourcing, with the help of utilizing uranium oxide disposition and its by-products and supports the effective practice and the accountable behaviour in the process of the fuel cycle of nuclear energy. It improves the areas of performance and the communication is regularly on progress and reviews and updates on progress (Rugman, 20 09). BHP Billiton has designed safeguards in order to prevent the reproduction of the nuclear weapons and detecting undeclared nuclear activities and material. Australia safeguards the agreement with IAEA needing an establishment and maintaining a system and controlling of all nuclear material which have been safeguarded under the agreement (Johnson Turner, 2010). Australia made agreement with Russia, Japan, and China which can be used, processed and agreed between the parties. Australia has nuclear safeguards or nuclear transfer agreement with the US, UK, Russia, France and China. Australia sold uranium in support of the peaceful purpose to NWS for more than 30 years. Australia negotiated a joint agreement with Russia in order to for replacing the limited agreement of 1990 coming into force on 2010. Strategic problems were taken by the Australian Government when it ratified the 2007 Agreement between the China and the Government of Australia on transferring nuclear objects. Alike considerations were given by the government to the planned problems when it granted a license in order to export uranium. For peaceful purposes, uranium is sold in Australia for producing electricity through nuclear energy (Palgrave et al., 2010). Australian uranium is sold to the recipient to safeguarding the contract formulated with IAEA and also a joint safeguard agreement involving the recipient country and Australia. The IAEA is a successful international company which safeguards the violations and strengthens the safeguarding of the IAEA and its members states. 35 members of the Board of Governors controls IAEA which Australia also took a seat which has been was uninterrupted since 1957. The performance of IAEA, resources and programs in order to make sure that the BHP Billiton remained successful. 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