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What BHP is touting is a process it calls credible and cost-effective, and it's these aims that are worth examining. BHP is the world's biggest miner of coking coal, used to make steel, and ranks third in iron ore, the main steel raw material. Diesel accounts for 76% of the emissions at the iron ore operations in Western Australia state, and 45% at the BHP Mitsubishi Alliance coking coal mines in the northeastern state of Queensland. BHP plans to switch its diesel trucks to battery-powered vehicles, but this will take some time and also involves more than just buying new equipment. The overall message from BHP is that it is advancing plans to reduce its Scope 1 and 2 emissions.

Persons: Clarence Fernandez Organizations: BHP Group, BHP, BHP Mitsubishi, Reuters, Thomson Locations: LAUNCESTON, Australia, Western Australia, Queensland

☆ 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

☆ Rio Tinto reopens iron ore rail line in Western Australia after derailment
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

MELBOURNE, June 21 (Reuters) - The world's biggest iron ore miner Rio Tinto (RIO.AX) said on Wednesday that it had reopened a rail line at its Western Australian operations after a train carrying iron ore near the port of Dampier derailed at the weekend. The line will remain subject to speed restrictions while a clean up of the site is underway and an investigation into the cause of the derailment is ongoing, a Rio Tinto spokesman said via email. The incident on Saturday was the second such event in recent years after peer BHP Group (BHP.AX) derailed a runaway iron ore train in the same region in late 2018. The loaded train with some 30 wagons would have been carrying around 3,900 to 4,500 metric tons of iron ore, according to one estimate. Rio Tinto has not said what the impact on its customers would be, if any, and declined any further comment.

Persons: Rio, Melanie Burton, Shri Navaratnam, Jamie Freed Organizations: MELBOURNE, Rio Tinto, BHP Group, Tinto, Thomson Locations: Rio, Dampier

☆ The 8 stocks most favored by a fund manager who beat 93% of his peers last year, plus the 4 indicators that he says could signal a downward turn in 2023's stock market rally
▼ + stars: | 2023-06-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Michael Cuggino, the president and portfolio manager of the Permanent Portfolio Family of Funds, says the current economic situation is a tale of two sides. The firm has two fixed-income funds, an aggressive growth equities fund, and a diversified fund known as the Permanent Portfolio that has been around since 1982. Last year, the permanent portfolio fund outperformed 93% of similar funds, according to Morningstar data. So far this year, it has been the growth stocks that are benefiting. The top four signals he's keeping an eye on are, first, a rapid increase in the unemployment rate, which would hit consumer spending and permeate other parts of the economy.

Persons: Michael Cuggino, Cuggino, It's, it's Charles Schwab Organizations: Federal, Morningstar, Companies, BHP Group, Exxon, Chevron, Nvidia, Broadcom, Apple Locations: Freeport, McMoRan, Australia

☆ Rio Tinto iron ore train derailed at weekend in Western Australia
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies About 30 wagons of self-driving train derailedNo injuries reportedUnclear if Rio will be able to meet customer commitmentsMELBOURNE, June 19 (Reuters) - Rio Tinto (RIO.AX) was working on Monday to recover about 30 wagons of a self-driving iron ore train that derailed in Western Australia, an accident that analysts said had the potential to disrupt its exports, although no one was injured. Saturday's incident was the second such event after peer BHP Group (BHP.AX) derailed a runaway iron ore train in the same region in late 2018. "The regulator has approved recovery of the site and work to recover the derailed wagons has commenced." Rio exports from Dampier port and through Cape Lambert in the northern part of Western Australia state. Shares in Rio, which said it was investigating the incident, were down 1.2%, alongside smaller declines in other iron ore miners.

Persons: David Lennox, Melanie Burton, Muralikumar Anantharaman, Clarence Fernandez Organizations: MELBOURNE, Rio Tinto, BHP Group, Thomson Locations: Rio, Western Australia, Dampier, Sydney, Cape Lambert

☆ Australia's central bank owes underpaid workers over $770,000
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, June 14 (Reuters) - Australia's central bank will pay out just over A$1 million in back pay after an internal review found on Wednesday the bank had systematically underpaid more than a thousand current and former employees. A review into the Reserve Bank of Australia's (RBA) "more complex remuneration arrangements" identified 1,173 current and former staff owed roughly A$1.15 million ($777,975), according to a statement on Wednesday. Most of the money owed came from leave entitlements that should have been paid out when staff left the bank, the bank said. The bank should be setting an example for the broader sector on pay and was right to apologise, according to Julia Angrisano, national secretary of the Finance Sector Union. ($1 = 1.4782 Australian dollars)Reporting by Lewis Jackson; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Julia Angrisano, Philip Lowe, Lewis Jackson, Kim Coghill Organizations: SYDNEY, Reserve Bank of Australia's, Finance Sector Union, BHP, PricewaterhouseCoopers, Thomson Locations: Australia

☆ BHP taps Microsoft, AI, to improve recovery at top copper mine
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

MELBOURNE, May 30 (Reuters) - BHP Group (BHP.AX) has teamed up with Microsoft Corp (MSFT.O) to improve copper recovery from its Escondida mine in Chile, the world's biggest copper mine, by using machine learning and artificial intelligence, it said on Tuesday. BHP estimates the world needs to double the amount of copper produced over the next 30 years to keep pace with the development of decarbonisation technology such as electric vehicles, offshore wind and solar farms. "We expect the next big wave in mining to come from the advanced use of digital technologies" BHP Chief Technical Officer Laura Tyler said in the company statement. Using real-time data from plants that process ore in combination with AI-based recommendations from Microsoft’s Azure platform, plant operators will have the ability to adjust variables that affect ore processing and grade recovery, BHP said. BHP, the world's biggest miner, is the majority owner of Escondida and operates the mine with partners Rio Tinto (RIO.AX), and Japan's JECO Corp. Escondida produced more than 1 million tonnes of copper during the last financial year ending in June.

☆ Lightning Round: Too many EV competitors is bad news for NIO
▼ + stars: | 2023-05-01 | by ( Jim Cramer | ) 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 EmailLightning Round: Too many EV competitors is bad news for NIO"Mad Money" host Jim Cramer weighs in on stocks, including NIO, BHP Group, Edwards Lifesciences, Palantir, M&T Bank, Zim, and Bunge.

☆ China automating mines to improve safety as coal output grows
▼ + stars: | 2023-04-28 | by ( Andrew Hayley | ) www.reuters.com time to read: +3 min

REUTERS/Tingshu WangYULIN, China, April 28 (Reuters) - China is pushing automated technology to improve the safety and efficiency of its coal mining industry, the world's largest, which has long been plagued by safety lapses. The nearby Xiaobaodang mine, also owned by Shaanxi Coal, has cut its underground staff by 42%. Coal mines in China, which produced more than half the world's coal last year, are among the deadliest, with accidents causing almost 250 deaths in 2022, a six-year high. China's National Energy Administration is urging miners to accelerate their adoption of "smart mining" technology in a bid to improve safety and efficiency as coal output grows with Beijing's efforts to bolster energy security even as it expands its use of renewable sources. Huawei says the Hongliulin mine spent about 200 million yuan on installing intelligent mining.

☆ Climate-Disclosure Rules Are Coming. Here’s How Companies Are Adapting.
▼ + stars: | 2023-04-25 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

International jurisdictions and the U.S. Securities and Exchange Commission are expected to finalize rules by this summer that will require public companies to report their greenhouse-gas emissions. Direct suppliers are known as tier 1 with that number increasing the deeper you go down the supply chain. Partnerships with suppliers: Large companies are working with small suppliers to overcome hurdles to accessing renewable power supplies, a relatively straightforward way to cut emissions. In October, it said its first group was five companies, including Amy’s Kitchen Inc., Levi Strauss & Co. and J.M. Targets for lower-emission alternatives: Nestlé SA is paying a premium to farmers in its supply chain that cut emissions by following regenerative farming practices.

In Norway, this will be exported to Europe, while in Kenya it will be turned into fertiliser for local farmers. FLAT IRON ORE OUTPUTFortescue on Monday posted steady iron ore shipments in the March quarter, while costs jumped 12%, but retained its full year shipment guidance despite a cyclone this month that disrupted exports from Australia's iron ore hub. Shares in the world's fourth largest iron ore miner fell as much as 5.3%, underperforming a 2.2% drop in the broader mining sector (.AXMJ) amid a drop in iron ore prices to near four-month lows on demand concerns. It left its shipments guidance for the year to June 2023 unchanged at 187 Mt to 192 Mt. Fortescue said it aims to start mining at its Belinga Iron Ore project in Gabon in the second half of 2023.

☆ Copper Shortage Threatens Green Transition
▼ + stars: | 2023-04-18 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

In 2021, refined copper demand stood at 25.3 million tons, according to the International Copper Study Group. Mined output globally in 2022 was 21.8 million tons according to the International Copper Study Group, rising only 1 million tons over the previous three years. According to Congo’s Ministry of Mines, copper metal exports totaled 2.3 million metric tons in 2022, up from 1.8 million metric tons in 2021, less than half of Chile’s output. According to analysts it is more of a “when” not an “if” copper demand is likely to surge. Changes in technology should ease some copper demand pressures.

☆ Australian court approves BHP's $6.4 bln OZ Minerals takeover
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: 1 min

April 17 (Reuters) - Global miner BHP Group Ltd (BHP.AX) said on Monday the Federal Court of Australia had approved its A$9.6 billion ($6.44 billion) takeover of OZ Minerals Ltd (OZL.AX). The court approval follows overwhelming support from OZ Minerals shareholders for the deal, which is the third largest in global mining in recent months. Shares of the Australian copper producer will be suspended from trading on the local bourse at the close of trading on Tuesday. ($1 = 1.4914 Australian dollars)Reporting by Echha Jain in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Big copper deals to take centerstage in Santiago as demand heats up
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +4 min

Lundin Mining Corp (LUN.TO) is paying nearly $1 billion for control of Chile's Caserones copper mine despite ongoing political uncertainty in the country. "The green transformation theme remains a strong tailwind for copper, the king of green metals," Saxo Bank strategist Ole Hansen told Reuters. Global copper demand expected to reach 53 million tonnes annually by 2053 - more than double current levels - but supply is still expected to fall short, according an S&P Global (SPGI.N) study. And Hudbay Minerals Inc (HBM.TO) last week said it would pay $439 million for rival Copper Mountain Mining Corp (CMMC.TO). Neighboring Peru, the world's second-largest copper producer, also expects to boost production this year.

[1/2] A train loaded with copper cathodes travels along a rail line inside the Chuquicamata copper mine, which is owned by Chile's state-run copper producer Codelco, near Calama city, Chile, April 1, 2011. Lundin last month agreed to pay $950 million for 51% control of the mine, calling the deal "an endorsement that we believe the mining royalty and taxation discussions are trending in the right direction." In the past 18 months, mining giants have been vocal about concerns in Chile. BHP Group Ltd (BHP.AX) said it might reevaluate its investments depending on new tax plans by the government, while Freeport-McMoRan Inc (FCX.N) has said it would pause expansion plans in Chile, citing political uncertainty. Lundin remains confident in the future of the Caserones project, which began operations in 2014 and has annual output of 100,000 tonnes of copper.

☆ Cyclone Ilsa hits Australia's northwest, misses iron ore export hub
▼ + stars: | 2023-04-13 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, April 14 (Reuters) - A tropical cyclone smashed into Australia's northwest coast as a category 5 storm, setting new wind speed records, but has largely spared populated regions including the world's largest iron ore export hub at Port Hedland, authorities said on Friday. "Port Hedland ... escaped the brunt of the cyclone at this stage. "As it moves inland and the sun comes up, we can expect it to still be a severe tropical cyclone," the weather bureau's hazard response manager Shenagh Gamble said. Ilsa is expected to weaken to a tropical low overnight and move into the southern parts of the Northern Territory. Destructive winds could hit the remote inland mining town of Telfer, where Newcrest Mining (NCM.AX) operates a fly-in-fly-out gold and copper mine.

☆ Australia's northwest braces for strongest cyclone in a decade
▼ + stars: | 2023-04-13 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

Cyclone Ilsa, located about 300 km (186 miles) off Australia's coast in the Indian Ocean, was on Thursday morning upgraded to a category four storm - one rung below the strongest category five. Port Hedland is the world's biggest export point for iron ore and is used by BHP Group (BHP.AX), Fortescue (FMG.AX) and billionaire Gina Rinehart's Hancock Prospecting. Rio Tinto (RIO.AX) exports out of Port of Dampier, which lies to the west of Port Hedland. It will be the strongest system to hit the country's far northwest region since Cyclone Christine crossed the coast in December 2013, weather bureau forecaster Jessica Lingard said. BHP in an emailed response said it was closely tracking the cyclone but its mining and rail operations were continuing.

Some 78.9% of proxy votes on behalf of Oz Minerals' investors were in favour of the takeover offer of A$26.50 cash from BHP and a A$1.75 special dividend paid to Oz Minerals investors, at a shareholder meeting in Adelaide on Thursday. It will bring in Oz Minerals' Carapateena copper mine, close to BHP's own Olympic Dam copper mine and smelting operations in South Australia. Strategically it will also boost BHP's nickel supply through Oz Minerals' West Musgrave nickel project in Western Australia, where BHP is already producing nickel sulphate at its Nickel West operations. If the deal is approved as expected, Oz Minerals shares will be suspended on April 18. Oz Minerals' board had unanimously supported the bid.

☆ 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.

BRASILIA, April 5 (Reuters) - A Supreme Court judge backed a government move to crack down on illegal gold mining in Brazil, suspending a legal practice of buyers accepting the origin of the precious metal with paper receipts based on the "good faith" of the seller. The injunction by Justice Gilmar Mendes gave the government 90 days to adopt a new regulatory framework for the gold trade to stop the sale of gold mined illegally from indigenous lands and other environmentally protected areas. The previous government of President Jair Bolsonaro eased environmental protections and encouraged wildcat mining in the Amazon rainforest. A surge in illegal mining on the Yanomami indigenous reservation caused disease and malnutrition that led the Lula government to declare a humanitarian crisis. The Brazilian Institute of Mining (Ibram), which represents gold mining companies such as AngloGold Ashanti Ltd (ANGJ.J) and Yamana Gold Inc (YRI.TO), as well as multinational giants such as Vale (VALE3.SA), Rio Tinto Ltd (RIO.AX) and BHP Group Ltd (BHP.AX), said 20% of Brazilian gold had no declared origin in 2021, citing data from the National Mining Agency.

☆ 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.

☆ BHP Group seeks delay to Brazil dam court case
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Ricardo Moraes/File PhotoLONDON, March 29 (Reuters) - Mining group BHP Group (BHP.AX) is seeking to delay a potential 36 billion pound ($44 billion) London lawsuit over Brazil's worst environmental disaster as it needs more time to prepare, the company's lawyers said on Wednesday. BHP denies liability and in December applied to join Vale to the case. Simon Salzedo, representing Vale, argued that BHP has no case against Vale and that, if it did, any lawsuit should be brought in Brazil. Reparation and compensation programs implemented by the Renova Foundation funded $6 billion in financial aid by the end of 2022, BHP added. BHP has applied to the Supreme Court to end the case without trial following the Court of Appeal's decision last year.

☆ BHP, engineering firm Hatch to design electric smelting plant in Australia
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 23 (Reuters) - BHP Group (BHP.AX) on Thursday signed an agreement with an engineering and project management firm Hatch to design an electric smelting furnace pilot plant in Australia in an attempt to slash its greenhouse gas emissions to zero by 2050. The facility will help lower carbon dioxide intensity in steel production using iron ore from the global miner's Pilbara mines. The plant will be able to produce steel from iron ore using renewable electricity and hydrogen replacing coking coal. Last October, the mining giant teamed up with steelmaker ArcelorMittal (MT.LU) and two others to test a new technology to reduce carbon emissions in steelmaking at two plants in Belgium and North America. Reporting by Navya Mittal in Bengaluru; Editing by Shilpi Majumdar and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Miner BHP potentially faces $44 bln bill in Brazil dam case
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +2 min

[1/3] Members of the Krenak indigenous people, Daniel Krenak, Andreia Krenak, Djanira Krenak, Maycon Krenak and Marcelo Krenak, demonstrate outside the High Court in London, Britain December 13, 2022. BHP (BHP.AX) was initially sued by around 200,000 Brazilians over the 2015 collapse of the Fundao dam, owned by the Samarco joint venture between BHP and Brazilian iron ore mining company Vale (VALE3.SA). BHP, the world's biggest miner by market value, denies liability and in December applied to join Vale to the case. BHP has said the London lawsuit duplicates legal proceedings and reparation and repair programmes in Brazil. BHP has applied to the Supreme Court to overturn that decision and its application is pending.

☆ Major copper producers unveil plan to reach net zero emissions by 2050
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, March 7 (Reuters) - A group of the world's biggest copper producers said it aimed to slash direct and indirect greenhouse gas emissions to zero by 2050, in a move that could make the sector more attractive to environmentally-conscious investment funds. Members include BHP Group (BHP.AX) Chile's Codelco, Glencore (GLEN.L), Freeport-McMoRan (FCX.N), Japan's JX Nippon Mining & Metals Corporation and Poland's KGHM (KGH.WA). There are no members from China, the world's biggest producer of refined copper. The copper producers plan to reduce direct and indirect emissions by decarbonising power supply, improving efficiency and scrap collection. Emissions produced by the copper industry as a whole represent 0.2% of global greenhouse gas emissions.

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