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☆ BHP Anglo American bid: The clean energy race could trigger the biggest mining deal in decades
▼ + stars: | 2024-04-25 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record. BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total. The potential deal would have a higher value than the $38.3 billion acquisition of Switzerland’s Xstrata by commodities company Glencore in 2012, according to Dealogic data. It would also be the biggest merger or acquisition in the mining industry by value since Dealogic began collecting the data in 2004. Shares in Anglo American soared as much as 13.8% on the news.

Persons: BHP, Dealogic, “, Mike Henry, ” Susannah Streeter, Hargreaves Lansdown, Rob North Organizations: London CNN — Mining, BHP, London Metals, Oz Minerals, United Kingdom’s, London Stock Exchange, City of, Hargreaves Locations: Australia, City, City of London

☆ BHP CEO: Demand for commodities like steel and nickel will continue to be higher
▼ + stars: | 2024-02-20 | 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 CEO: Demand for commodities like steel and nickel will continue to be higherMike Henry, CEO of world's largest publicly traded mining company BHP sat down with Closing Bell Overtime's Morgan Brennan to discuss his supply-demand expectations for commodities such as nickel, steel and copper, the effects of geopolitics and other megatrends on the commodities sector, the company's first-half earnings, and more.

Persons: Mike Henry, Bell Overtime's Morgan Brennan Organizations: BHP, world's

☆ BHP CEO: The world will need two times more copper in the next 30 years
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBHP CEO: The world will need two times more copper in the next 30 yearsMike Henry, BHP CEO, joins 'Closing Bell Overtime' to talk the mining and precious metal industry, how EV advancement has increased demand and more.

Persons: Mike Henry Organizations: BHP

☆ BHP sees China demand bright spots, logs 37% profit drop
▼ + stars: | 2023-08-21 | by ( Melanie Burton | Sameer Manekar | ) www.reuters.com time to read: +4 min

A small toy figure and mineral imitation are seen in front of the BHP logo in this illustration taken November 19, 2021. Western demand for commodities on the other hand has been seen hurt by the lagging impact of interest rate hikes. “You can’t deny that commodity prices have come off a fair bit from where they were, (but) they are still pretty healthy, the iron ore price in particular,” Forster said. Inflation is also expected to raise the floor for commodities prices, including copper and iron ore, BHP said, seeing prices for the latter trade around $80-$100 a ton. BHP produces iron ore in Western Australia for $17.79 a ton.

Persons: Dado Ruvic, Mike Henry, BHP, Andy Forster, ” Forster, “ Capex, That’s, Jansen, Henry Organizations: MELBOURNE, BHP Group, BHP, REUTERS, Macquarie, Argo Investments, Oz Minerals Locations: China, India, Australia, Canada, 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.

☆ China seeks climate change, new energy cooperation with Australia's BHP - foreign ministry
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 4 (Reuters) - China hopes Australian miner BHP (BHP.AX) will tap potential for cooperation in emerging areas such as climate change and new energy, while carrying out more mutually beneficial projects, according to a foreign ministry statement on Tuesday. Chinese Vice Foreign Minister Xie Feng made the remarks during a meeting with BHP CEO Mike Henry on March 27, the ministry said. Xie also expressed hope that BHP will contribute more to the improvement of China-Australia relations, according to the statement. BHP announced last month that it signed memorandums of understanding with two Chinese copper producers to reduce emissions and improve energy efficiency in the smelting and refining processes. Reporting by Ethan Wang and Liz Lee; Editing by Himani Sarkar and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ Australian exporters rekindle China ties amid diplomatic thaw
▼ + stars: | 2023-02-27 | by ( Lewis Jackson | ) www.reuters.com time to read: +5 min

Australian business leaders are following the political signals. Fortescue Metals (FMG.AX) founder Andrew Forrest, BHP (BHP.AX) head Mike Henry and Tim Ford, chief executive of tariff-hit winemaker Treasury Wine Estate (TWE.AX), have scheduled visits to China in March. At least 15 vessels carrying Australian coal were bound for China last week as traders bet already-reduced trade barriers will fall further. "People are starting to get on the front foot," Grain Trade Australia Chief Executive Pat O'Shannassy told Reuters. A shipment of Australian coal diverted to Vietnam last week after waiting at a Chinese port for five days without unloading.

As a result, the world's largest listed miner reported underlying profit attributable from continuing operations of $6.6 billion, down from $9.72 billion a year earlier. That missed a Vuma Financial estimate of $6.82 billion, as earnings from copper and coal came in lower than analysts had expected. Shares of the global miner fell as much as 2.8% to A$47.11, their lowest since Jan. 6 and were down 2% at 0138 GMT in a broader market (.AXJO) that was down 0.5%. BHP also said it expected aggressive global interest rate hikes from last year to slow growth sharply across the developed world. BHP has threatened not to invest in Queensland after the state hiked its coal royalties to the highest rate in the world.

☆ BHP investors aren’t seeing the wood for the trees
▼ + stars: | 2023-02-21 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

Granted, BHP’s earnings of $6.5 billion for the six months to the end of December missed estimates by some 7%. BHP’s investors are missing a bit of the wood for the trees. Iron age: Miners are rallying as iron ore prices riseFollow @AntonyMCurrie on Twitter(The author is a Reuters Breakingviews columnist. The company attributed the drop to lower prices for iron ore and copper. BHP is paying a dividend of 90 cents a share for the period, down from $1.50 a share a year earlier.

☆ We expect to see stronger steel and iron ore demand from China, says BHP
▼ + stars: | 2023-02-21 | 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 EmailWe expect to see stronger steel and iron ore demand from China, says BHPMike Henry, CEO of the mining company, says demand is likely to pick up toward the end of this calendar year.

☆ 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.

SINGAPORE, Feb 21 (Reuters) - Chinese utilities and traders have stepped up purchases of Australian coal in February, encouraged by signs of further policy relaxation after trade partially resumed last month following a two-year hiatus. At least 15 vessels hauling about 1.4 million tonnes of February-loading Australian coal are bound for China, according to shiptracking data from Refinitiv and Kpler. Reuters GraphicsAnother more than 1 million tonnes of thermal coal have been booked to load in March, a senior trader with a state-run Chinese utility said. "In theory, firms who acquire the licence would be able to get their cargoes through customs," said another Chinese utility official. Chinese buyers may also face competition in Australian coal purchases as producers have pivoted their sales to other markets in China's absence.

SummarySummary Companies H1 profit misses estimateInterim dividend beats estimatePositive on demand outlook from ChinaStarts process to sell two Queensland met coal minesFeb 21 (Reuters) - Global miner BHP Group (BHP.AX) was positive about demand outlook through to fiscal 2024 as top metals consumer China reopens and shifts policy towards its debt-laden property sector, the company said on Tuesday after its 2023 first-half profit missed estimates. However, its interim dividend of 90 cents per share, while lower than last year's $1.50 per share, beat Vuma Financial's estimate of 88 cents. "We are positive about the demand outlook in the second half of fiscal 2023 and into fiscal 2024, with strengthening activity in China on the back of recent policy decisions the major driver," Chief Executive Officer Mike Henry said. But the reopening of the world's second-biggest economy and a property sector policy shift has BHP upbeat on the commodity demand outlook. However, in an environment where central banks are aggressively tightening their monetary policy, BHP expects its operating environment to remain volatile in the near term, but expects China to be a source of stability for commodity demand.

☆ BHP upbeat on demand outlook on China reopening, first-half profit drops 32%
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

Feb 21 (Reuters) - BHP Group Ltd (BHP.AX) on Tuesday reported a steeper than estimated 32% drop in profit for the first half, citing weak iron ore prices, but forecast a positive demand outlook on strengthening activity in China. However, its interim dividend of 90 U.S. cents per share, while lower than last year's 150 cents per share, beat Vuma Financial's estimate of 88 cents. "We are positive about the demand outlook in the second half of fiscal 2023 and into fiscal 2024, with strengthening activity in China on the back of recent policy decisions the major driver," Chief Executive Officer Mike Henry said. But the reopening of the world's second-biggest economy and a policy shift for its debt-ridden property sector has BHP upbeat on the commodity demand outlook. Reporting by Sameer Manekar and Himanshi Akhand in Bengaluru; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Investors Push Mining Companies to Adopt Better Sustainability Standards
▼ + stars: | 2023-01-25 | by ( Dieter Holger | ) www.wsj.com time to read: +4 min

Investors are pushing miners to adopt tougher sustainability policies amid fears the rush for minerals to expand renewable energy will harm the environment and poor communities. The newly-launched Global Investor Commission on Mining 2030 said it would introduce sustainability standards by next January which will seek to overhaul the mining industry this decade. “We’ll improve the practices and outcomes in the mining industry more quickly,” he said. PREVIEWThe rules will draw on lessons from investors and the mining industry’s development of the Global Industry Standard on Tailings Management. The tailings standard came out about two years ago following the 2019 Vale SA Brumadinho disaster in Brazil where a tailings dam collapsed and killed 270 people.

It’s a seemingly simple calculation, but supply-chain experts caution that shipping from stores can be more challenging than filling orders at fulfillment centers that are set up for the job. It now packages orders at 116 of its approximately 1,350 stores, said Amiee Bayer-Thomas, the company’s chief supply chain officer. The chain said it has converted areas in 35 stores to serve as semi-automated miniature distribution centers. That is one reason department store Nordstrom is pulling back on shipping orders from stores for its discount brand Nordstrom Rack. The company will continue using Nordstrom stores to fulfill online orders for that brand.

☆ Emerging market policymakers dare to hope for brighter 2023
▼ + stars: | 2022-11-30 | by ( Roberto Samora | ) www.reuters.com time to read: +3 min

He also said a reopening of China could propel the South Korean economy in 2023. "Actually if China loosens zero-COVID policy and reopens their borders and economy that will be a tremendous stimulus for us. Indian Finance Minister Nirmala Sitharaman forecast a "very good" economy ahead of 2024 national elections, fuelled by capital spending. State finance minister Shehan Semasinghe also said the nation was intent on meeting a December deadline to present plans to help unlock an International Monetary Fund bail-out. Zambia, which defaulted on its sovereign debt in 2020, aims to complete its restructuring of nearly $15 billion of external debt in the first quarter of 2023, Finance Minister Situmbeko Musokotwane said.

☆ 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.

But it is spreading across finance, energy, retail and aviation, threatening to push up labour costs in industries facing supply-chain bottlenecks and worker shortages. The turmoil is especially pronounced because union power was curtailed in Australia under laws in place since the 1990s. In the year to June, the average Australian wage rose 2.6%, compared with inflation of 6.1%, according to official data. Despite seven interest-rate hikes since May, inflation is set to climb further before subsiding in 2023, the government says. But in the current climate in Australia, workers are in no mood to back down.

☆ BHP’s shinier $6 bln OZ bid stays within reality
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Nov 18 (Reuters Breakingviews) - BHP (BHP.AX) boss Mike Henry’s apparent nonchalance about buying OZ Minerals (OZL.AX) always smacked of play-acting. No sooner had the metals miner rejected its larger rival’s A$8.3 billion ($5.8 billion) all-cash overture in August than Henry was fobbing it off as a “nice-to-have, not a must-have” business. Yet on Friday, the target disclosed BHP recently upped its offer 13%, and says it will agree in principle to the revised bid. Henry is now dangling a 49% premium to OZ’s undisturbed share price. Cutting around a third of OZ’s annual expenses would, taxed and capitalised, cover the A$3.1 billion premium.

☆ BHP quarterly iron ore production rises on lower COVID-19 impacts
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - BHP Group (BHP.AX) said on Wednesday its quarterly iron ore output rose, aided by better performance from its Western Australian assets and a continued ramp-up at its South Flank project. The higher production comes despite an 18% fall in spot prices of iron ore over the September quarter as China repeatedly locked down several major cities as part of its "zero-COVID" policy, hitting economic activity and demand for iron ore.Rival Rio Tinto (RIO.AX) had tempered its annual iron ore shipments forecast, after quarterly iron ore deliveries fell. The worker shortage continued to slow performance at its coal projects in New South Wales, which were already hit by floods. New South Wales energy coal production fell 38% in the September quarter. The global miner produced 72.1 million tonnes (mt) of iron ore in its first quarter, a 2% rise.

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