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☆ BHP could aim for Rio Tinto after Anglo American rejects takeover offer, analyst says
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBHP could aim for Rio Tinto after Anglo American rejects takeover offer, analyst saysIn the wake of Anglo American's rejection of BHP Group's takeover bid, John Meyer, partner at SP Angel, said that other interested buyers, like Chinese state-owned companies, could step in with a better offer. He added that BHP could instead aim for Rio Tinto, as there is "much more at stake here" than at Anglo American.

Persons: John Meyer Organizations: Rio Tinto, BHP, SP Angel Locations: American, Rio

☆ Anglo American shares pop 12% after BHP Group's $39 billion takeover bid to form mining juggernaut
▼ + stars: | 2024-04-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Mining giant BHP Group on Thursday said it had made an all-share takeover offer for rival Anglo American , valuing the smaller company at £31.1 billion ($38.9 billion). Anglo American shares leapt at the market open and were 12% higher at 9 a.m. in London. Australia-based BHP, the biggest listed miner according to Companies Market Cap, said that the deal would deliver 0.7097 BHP shares per Anglo American share to Anglo American's ordinary shareholders. Anglo American has a huge copper operation based in South America and a production target for the metal of 730,000 to 790,000 tons in 2024. This compares with a copper output aim between 1.7 million and 1.9 million for BHP over the same period.

Organizations: Mining, BHP Group, BHP Locations: London, Australia, American, South America

☆ Copper is 'crown jewel' for BHP's bid for Anglo American, says investor
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCopper is 'crown jewel' for BHP Group's bid for Anglo American, says portfolio managerTodd Warren, portfolio manager at Tribeca Investment Partners, says copper is the "crown jewel" and the main priority that BHP Group is fighting for with its takeover offer for rival Anglo American.

Persons: Todd Warren Organizations: BHP Group's, Tribeca Investment Partners, BHP Group

☆ BHP posts record full-year iron ore output, flags rising costs
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: +1 min

BHP Group's logo adorning the side of its global headquarters in Melbourne on February 21, 2023. BHP Group on Thursday reported its highest ever annual iron ore production, helped by the continued ramp up at its South Flank operations in Western Australia but flagged it faces rising costs. BHP's iron ore production in Western Australia was aided by improved rail performance at the mines, but production was partially hit by unfavorable impacts from tropical Cyclone Ilsa in the quarter. It said iron ore production from Western Australia, on a 100% basis, was 72.7 million tonnes (Mt) in the three months to June 30, a touch lower than Visible Alpha estimates of 73 Mt, according to UBS. The company expects fiscal 2024 output for Western Australia iron ore between 282 million and 294 million metric tons, the mid-point of which is 0.9% higher than annual production of 285.3 million metric tons for fiscal 2023.

Organizations: BHP, BHP Group, UBS, Western Locations: Melbourne, Western Australia

☆ Australia's critical minerals industry needs quicker permits, not subsidies, BHP says
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: +1 min

BHP Group's logo adorning the side of its global headquarters in Melbourne on February 21, 2023. Australia's critical minerals strategy does not need the sugar hit of more subsidies as good projects will find investment, but the country needs to hasten mine development timeframes and rework new workplace legislation, BHP's CEO said on Tuesday. BHP CEO Mike Henry's comments came a week after Australia, one of the world's biggest suppliers of raw minerals, outlined a strategy on how it will work with investors and international partners to build a critical minerals processing industry. Australia needs to do that." The government needs to address the overlap between state and national regulation as well as speed up permitting, he said.

Persons: Mike Henry's, Henry Organizations: BHP Locations: Melbourne, Australia, Brisbane, U.S

☆ BHP's exploration accelerator to open to uranium, lithium finds
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, April 5 (Reuters) - BHP Group's (BHP.AX) programme to support promising minerals explorers will expand beyond copper and nickel to prospective uranium and lithium projects from September, the head of its Xplor program said on Wednesday. For its second year, the programme wants to receive double the number of applications at 500 from the first year as it opens up to more commodities, said Sonia Scarselli, vice president of BHP Xplor. "We will be looking not just at copper and nickel, but at uranium and lithium and so on," Scarselli told a commodities conference in Singapore. Scarselli told Reuters last month BHP saw lithium's demand-supply equation as not as fundamentally stretched as that for copper and nickel. The miner, which produces uranium as a byproduct at its Olympic Dam copper operations in South Australia, has become more vocal about the role of uranium in a new energy world.

☆ Australia risks losing pole position in critical minerals race
▼ + stars: | 2023-03-30 | by ( Melanie Burton | ) www.reuters.com time to read: +5 min

The Grattan Institute, a think tank, estimates the critical minerals industry could add more than $400 billion to the economy by 2050, a bigger contribution than the coal industry, Australia's no.2 export, today. They want rapid action in light of new competition from the U.S., Canada and the European Union, which have laid out critical minerals strategies including billions of dollars in incentives. King said on Wednesday a critical minerals strategy would be released "soon". However the government has not said when it would deliver its national battery strategy. "The elements for an effective critical minerals strategy are in place.

☆ Mining giant BHP says China and India growth will buoy demand despite profit drop
▼ + stars: | 2023-02-21 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Australian mining giant BHP is optimistic China and India's growth will boost commodity demand, even as the company reported a steep drop in half-year profits. His comments come as the miner recorded a 16% revenue drop in the six months ended December, from $30.53 billion to $25.71 billion. The company's half-year profits came in at $6.46 billion, 32% lower than the $9.44 billion in the same period a year ago. BHP attributed the declines to lower iron ore and copper prices. During the six-month period, iron ore prices fell to a low of $80.03 per metric ton on Nov. 1 while copper hit $3.29 a pound on Sept. 27.

☆ BHP's Henry sees fundamentals in place for China's economic growth
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

Nov 30 (Reuters) - BHP Group's (BHP.AX) Chief Executive Mike Henry said that "all fundamentals are in place" in China for continued economic growth over the next 20 years. China, the world's second biggest economy, accounts for more than 50% of global demand for raw materials. Its economic activity has this year been dampened by targeted lockdowns in response to COVID-19 outbreaks. Speaking at the Reuters NEXT conference in New York Henry, head of the world's largest listed mining company, said he expects to see an "increasing domestic drive towards economic growth in China". Reporting by Clara Denina, Ernest Scheyder; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's Fortescue taps Woodside veteran as CEO amid green energy push
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Australia's Fortescue Metals Group (FMG) can be seen on a bulk carrier as it is loaded with iron ore at the coastal town of Port Hedland in Western Australia, November 29, 2018. REUTERS/Melanie Burton/File PhotoNov 29 (Reuters) - Australia's Fortescue Metals Group (FMG.AX) on Tuesday appointed former Woodside Energy (WDS.AX) executive Fiona Hick as its chief executive officer, effective February 2023, as Elizabeth Gaines made way for a new boss in August. Hick joins Fortescue at a time when the iron ore giant is delving into mining of critical minerals and rare-earths and is also striving to transition into a green energy firm through its unit Fortescue Future Industries (FFI). She will lead Fortescue Metals' mining arm, culminating a year-long search by the company's billionaire-founder and chairman Andrew Forrest. Gaines, who oversaw a tripling in the share price of one of the world's biggest iron ore miners in the past four years, remains on Fortescue's board as a non-executive director.

☆ Woodside lifts output forecast as revenue soars on high energy prices
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

The company became a top-10 global independent oil and gas producer after its merger with BHP's petroleum arm was finalised this year, helping it double its output. read moreWoodside gained from weaker energy supplies following the Ukraine war, which pushed liquefied natural gas prices to new highs and forced buyers to scramble for alternate supplies from countries like Australia. Woodside also said it produced 51.2 mmboe during the quarter, the first full quarter of production since its merger with BHP's petroleum arm, compared with 22.2 mmboe a year earlier. This, along with the newly acquired BHP assets, helped boost quarterly revenue to $5.86 billion, from $1.53 billion a year ago. Woodside also said its Sangomar oil and gas project in Senegal was 70% complete at the end of September, with first production targeted for the latter half of 2023.

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